Binance Awards $200,000 Bounty for DOJ Indictment of Attackers Behind 2018 Phishing Campaign

Recently, the U.S. Department of Justice revealed its indictment of two people who were responsible for an attempted hack on Binance exchange in March 2018. The U.S. Department of the Treasury’s Office of Foreign Assets Control simultaneously announced sanctions targeting the individuals. These fraudsters created phishing sites that mimicked the Binance website, collecting login credentials from many users and then used those credentials to stage the attack.

Soon after the attempt in 2018, Binance offered a 250,000 USD reward for information leading to the arrest of the attackers. That same month, a team of investigators submitted a long-form report that identified one of the attackers and provided information on the specifics of the attack.

“Our security team promptly passed off this report and other information and indicators to U.S. law enforcement. In the months that followed, we worked closely with U.S. law enforcement to help identify and bring attackers to justice”. the exchange said.

“As a result of this cooperation, the culprits have been identified and sanctioned, and are currently being pursued. Though the suspects remain at large, we decided to award a 200,000 USD bounty to the investigators for their work, with the remaining 50,000 USD to be given once the attackers are in custody.” Binance added.

Back in May 2019, Binance said hackers withdrew 7,000 Bitcoins worth about $110 million at the time of writing via a single transaction in a “large scale security breach.”

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