Tron founder Justin Sun's Poloniex exchange has been confirmed to be hacked for $125 million.Sun announced that the hacker would receive a 5% white hat bounty if they returned the stolen funds within the next seven days, post which authorities would be involved.The stolen assets were majorly distributed among ETH, BTC and TRX along with some small cap altcoins such as FLOKI, AAVE, etc.#IluPredictor #Poloniex #hack #Tron #News

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The investor Justin Sun, associated with Poloniex, released an on-chain communication that appeared to be directed towards the individual responsible for the hacking incident.
Sun asserted that he had knowledge pertaining to the identity of the exploiter, and has duly notified the respective authorities in China, the United States, and Russia.
Sun has extended a $10 million whitehat bounty to the hacker as an incentive for the restoration of the misappropriated cash amounting to $110 million.
The Poloniex investor, Justin Sun, sent an on-chain message directed towards the individual responsible for the hacking incident. Sun had two primary objectives he aimed to convey subsequent to the embezzlement of around $110 million from the Poloniex exchange by the implicated individual or group.
Justin Sun endeavors to reconcile his actions.
The Poloniex exchange had a significant setback when unauthorized individuals illicitly obtained around $110 million worth of cryptocurrencies and Non-Fungible Tokens (NFTs) on November 10th. Shortly thereafter, the exchange verified the existence of the exploit.
On November 18th, Justin Sun, a prominent investor in Poloniex, transmitted an on-chain message to the individual responsible for the hacking incident. The content of the message is as follows:
The verification of your identification has been successfully completed, with the active participation of law enforcement agencies from China, the United States, and Russia. The entirety of the stolen monies have been designated for the purpose of monitoring their movement, rendering them unusable, while the financial entities involved will be subjected to a state of temporary suspension. Please ensure your return no later than November 25, 2023, at which point a white hat award of $10 million will be made available to you. In the event that the item is not returned within the specified timeframe, law enforcement agencies from various nations will initiate appropriate measures.
According to available reports, the incident is believed to have been orchestrated by hackers affiliated with North Korea, potentially posing challenges to the recovery process.
Remarkably, the price of TRON (TRX) has exhibited stability and saw a mere 5% retracement subsequent to this occurrence. The current trading price of TRX stands at about $0.102, following a notable 50% increase in value from August 18 to November 13.
#JustinSun #Poloniex #hack