CoinEx's Risky Gamble: Extending an Olive Branch to Notorious Hackers

CoinEx's Risky Gamble: Extending an Olive Branch to Notorious Hackers



CoinEx, the cryptocurrency exchange that recently experienced a security breach has taken an approach to address the situation. In a letter dated September 15th the company has extended an olive branch to the hackers. They have invited the perpetrators to engage in negotiations, for the return of the stolen assets. Have even offered a " bug bounty" as an incentive. The notorious Lazarus Group, known to have ties with North Korea has been identified as responsible for this attack.



According to security firm SlowMist approximately $55 million was lost from CoinExs wallets during the breach that took place on September 12th. As a result of this incident CoinEx has temporarily suspended all deposits and withdrawals while conducting investigations.



In their letter CoinEx recognized this hack as a wake up call regarding the importance


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#Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Regulations

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