Tron founder Justin Sun has increased the bounty reward for the hackers behind the recent Poloniex exchange hack to $10 million if they return the stolen funds by November 25th.
In an on-chain message, Sun stated that law enforcement from the U.S., Russia, and China are already investigating the hack, adding that the stolen assets have been flagged and cannot be moved or used.
The Poloniex hot wallets were compromised on November 10th, resulting in the theft of over $120 million worth of crypto assets across multiple blockchains. While Tron has committed to fully reimbursing affected users, Sun offered the hackers a 5% ‘white hat’ bounty to return the funds.
However, with the November 17th deadline now passed, Sun has doubled down – upping the reward to $10 million but giving the hackers just one more week before global law enforcement steps in.
Sun warned that if the hackers fail to take advantage of this deal, their identities will be exposed, and financial institutions dealing with them will be frozen. Meanwhile, Poloniex has said it hopes to resume withdrawal and deposit services within the next week, pending further announcements.
The exchange was acquired by Circle in 2018, with Sun and other investors buying a stake in 2019. It remains to be seen whether this final carrot-and-stick approach will convince the hackers to return the stolen cryptocurrency.
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