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 <p class="is-style-lead">The Tron founder said Poloniex hackers have seven days to return a bulk of the funds in exchange for a white hat bounty or law enforcement would be engaged for a remedy.</p>
 <p>Justin Sun provided three wallet addresses to which hackers could transfer the stolen funds. Sun also added that an internal investigation was underway and affected assets would be fully reimbursed as the platform maintains a “healthy financial position”.</p>
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    <p lang="en" dir="ltr">We are <a rel="noopener noreferrer nofollow" title="offer" href="https://thebittimes.com/tag/offer.html">offer</a>ing a 5% white hat <a rel="noopener noreferrer nofollow" title="bounty" href="https://thebittimes.com/tag/bounty.html">bounty</a> to the Poloniex hacker. Please return the funds to the following ETH/TRX/BTC wallets. We will give you 7 days to consider this <a rel="noopener noreferrer nofollow" title="offer" href="https://thebittimes.com/tag/offer.html">offer</a> before we engage law enforcement.<br>ETH Wallet: 0x176F3DAb24a159341c0509bB36B833E7fdd0a132 TRX:…</p>— H.E. Justin Sun 孙宇晨 (@justinsuntron) November 10, 2023
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 <p>Blockchain security firm PeckShield alerted community members to outflows from Poloniex hot wallets on Nov. 10. As crypto.news reported, the losses were initially estimated at around $33 million but this number was later updated to over $120 million in cryptocurrencies across Ethereum, Tron and Bitcoin networks.</p>
 <p>On-chain data provided by Arkham Intelligence also showed that the Poloniex hacker bought $20 million worth of Tron’s native token TRX shortly after the heist. The massive buy caused a brief 25% spike in TRX prices.</p>
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    <p lang="en" dir="ltr">The estimated loss of @Poloniex hack is ~$125m, mainly on three chains: $56m (ETH), $48m (TRX), $18m (BTC).<br><br>Also an interesting tx to look into: https://t.co/2RzpoGkb7e https://t.co/tNKR8zkIzY https://t.co/vWYgyYb78U pic.twitter.com/cXZ32mXCNn</p>— PeckShield Inc. (@peckshield) November 10, 2023
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Justin Sun predicts the harshest of crypto winter has passed
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 <p>Poloniex was acquired by Circle in 2018, and Sun, along with a group of investors bought into the company back in 2019. The crypto exchange is one of the oldest digital asset trading venues after being founded in 2013.</p>
 <p>Prior to the hack, the platform boasted over $600 million in daily trading volume according to CoinMarketCap.</p>
 <p>Poloniex was the second Sun-tied crypto exchange to suffer a hack within two months. Exploiters stole $8 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in cryptocurrencies from HTX, formerly Huobi. The rebranded exchange subsequently launched its SAFU fund as an insurance reserve.</p>
 <p>HTX recovered the stolen assets after hackers returned 5,000 ETH in a rare move. Other platforms like South Korean exchange GDAC also experienced exploits resulting in <a rel="noopener noreferrer nofollow" title="losses" href="https://thebittimes.com/tag/losses.html">losses</a> worth <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>s.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Australian exchange CoinSpot reportedly hacked for $2m
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/justin-sun-offers-5-bounty-as-poloniex-losses-cross-100-million-tbt69882.html">https://thebittimes.com/justin-sun-offers-5-bounty-as-poloniex-losses-cross-100-million-tbt69882.html</a></p>

Justin Sun offers 5% bounty as Poloniex losses cross $100 million

TheBitTimes

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