Binance is offering a $250k reward if the hackers are found

If Coincheck refunded all the money to the ‘harmed’ users, Binance is offering a $250,000 reward to whoever brings any information related to the hackers. Last week’s cyber attack at one of the biggest cryptocurrency exchanges in the world has set a panic among the traders and investors in the cryptocurrency space.

The heads of the company have finally understood that this is no place to hide the cyber attack and that there is a big need of security in the near future. The Binance team has also announced on their blog that they want to prevent any future hacking attempt and that they will follow the trace of the attackers.

The reward that will be offered for those who bring information regarding the cyber attack is pretty massive and the $250,000 amount will be offered for the first person that offers information leading to the ‘wannabe’ thieves. Why are we saying wannabe thieves? Because they didn’t manage to bring the operation to an end and the evading has been stopped before Binance suffered from any prejudice. It is obvious that the exchange is awaiting even more attempts of attack and they have deposited a 10 million dollar for potential rewards. It is certain that there will be other attempts of crypto exchange breaking and the human error is the weakest link  when it comes to security flaws. We have to be cautious with the cryptocurrencies, as they become an enticing target for the thieves and hackers.