The cryptocurrency exchange Binance paid $200,000 to a group of investigators for help in catching the hackers behind the March 2018 breach. Representatives of Binance told ForkLog.<\/p>\n
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At the time, victims of unauthorized transactions were users who used API keys to synchronize with trading bots. The attackers obtained their data through a phishing version of the Binance site, the exchange said.<\/p>\n
Soon after the attack, Binance announced a $250,000 reward for information about the hackers. The platform also pledged $10 million to help prevent similar incidents.<\/p>\n
\n“In the same month, the investigative group presented a detailed report on the identity of one of the hackers and the details of the attack,” the exchange said.<\/p>\n<\/blockquote>\n
The authorities suspect two individuals of organizing the attack. According to Binance, the U.S. Department of Justice has charged them.<\/p>\n
For helping to catch the hackers, Binance paid $200,000. The remaining $50,000 will be handed over after their arrest.<\/p>\n
Binance’s representatives noted that the exchange’s security team is continually working to prevent threats in the cryptocurrency space.<\/p>\n
In September 2019, Binance helped London’s police in the investigation of a \u00a341.6m ($51.2m) fraud. In August 2020, the Cyberpolice Department of Ukraine noted<\/a> the exchange’s help in catching three individuals involved in laundering $42 million through cryptocurrencies.<\/p>\n
In November, Binance’s security team said it had recovered $345,000 stolen from Wine Swap users. <\/p>\n