CoinEx urges hackers to accept bounty reward & return $70M stolen cryptocurrencies

Crypto transactions linked with the CoinEx crypto exchange hacker showed that they are affiliated with the Lazarus hacking group, while the CoinEx team expected to get a response from the hackers. 

CoinEx is an average popular global digital assets trade exchange that supports trading with the high-speed matching engine, very fast deposit, and withdrawal experience, and guarding assets with multi-dimensional security and protection. This exchange was founded by Haipo Yang. Yang came to know about Bitcoin in 2011 & finally joined the Bitcoin community in 2013.

On 12 Sep, this exchange faced a hacking attack & lost $50 million worth of crypto assets. 

On 15 Sep, the CoinEx team released an open letter to negotiate with them to accept bug bounty reward and also tried to explain that the exchange can’t run its services in the future because a huge number of customers’ funds were drained in this attack, which is contradictory to the trust level of the exchange.

Currently, the CoinEx team is engaged with another crypto security firm to investigate the whole incident, fix the issue & catch the main culprit. So far investigations found that $70 million in funds have been drained by the hackers.

Popular crypto detective ZachXBT shared his investigation and claimed that the hackers are linked with Lazarus Group, a very big group of anonymous hackers affiliated with the government of North Korea. 

At present withdrawal & deposit services are not available at the CoinEx exchange, as the developers are again reconstructing the exchange’s wallet system.

Read also: Experts suggest crypto traders not to short every pump in these coins