Recently, Poloniex officially announced that they have identified the identity of the hacker responsible for the attack on their exchange on November 10th, resulting in a loss of $125 million. Despite identifying the hacker, the exchange has increased the reward to $10 million (previously 5% of the stolen amount) if the hacker returns the funds by November 25th.
Currently, Justin Sun, a major shareholder in Poloniex, has been sending blockchain messages on the Ethereum network to addresses related to the hack. Sun’s wallet has conducted 16 transactions, each valued at $0.1 USD, containing the same message in multiple languages.
In addition to reaching out to the hacker, Poloniex is calling upon law enforcement agencies in China, Russia, and the United States to take legal action against the hacker if the funds are not returned.
Notably, the exchange emphasizes that all the stolen funds have been identified and marked, rendering them unusable. Moreover, any financial partners who receive these assets will face the freezing of their accounts.
It’s worth mentioning that the Poloniex hack occurred on November 10th through a breach of the exchange’s hot wallet, resulting in the loss of various cryptocurrencies, including Ethereum (ETH), Tron (TRX), and Bitcoin (BTC).
Ethereum, Tron, and Bitcoin accounted for 80% of the stolen assets, with additional damages including 3.1 million Ripple (XRP) and 577 trillion Shiba Inu (SHIB).
At that time, Poloniex reassured the community and pledged to compensate for the losses, while also temporarily suspending withdrawals to investigate the hack and enhance security measures. The exchange has recently announced plans to resume deposits and withdrawals in the coming week.