BINANCE WILL REWARD YOU WITH $ 250,000 IF YOU ARE ABLE TO TRACE THOSE WHO VIOLATED YOUR SECURITY

The exchange house of cryptoactives Binance has offered a reward of $250,000 to anyone who encourages the arrest of cyber attackers who carried out unauthorized transactions on March 7.

The announcement states that the first person to provide information that directly results in the arrest of attackers by authorities anywhere in the world, will receive a reward in the Binance Coin cryptocurrency (BNC), used within the market site; They have also pointed out that if several people collaborate, the reward will be divided among them.

As part of a preventive strategy, Binance has created a reserve fund valued at $10 million dollars, destined to serve as a reward to be granted on future occasions to arrest the perpetrators of these attacks, inviting other market sites to take the same initiative.

In turn, Binance's CEO asked the crypto community to collaborate with translations of Binance's announcement. The request was answered and was conducted in Spanish, German, Finnish, Dutch, Arabic, Portuguese, Hindi, among others.

It was last March 7 when dozens of transactions not authorized by Binance users were made in their accounts. Allegedly, the attackers aimed to steal the funds they controlled, but only managed to make transactions internally until Binance's administrators were warned and took the necessary measures to stop the attack.

The attackers would have avoided the multiple authentication methods by means of malicious trading bots, in charge of carrying out transactions in an automated way, to which the clients would have previously given authorization. Once warned, Binance suspended all withdrawals of funds from its platform, reopening them until the next day.

Users alerted Binance to the breach in security after observing the irregular and unauthorized behavior of transactions in their accounts. The exact method employed by hackers remains unclear, although some users have argued that a possible compromise of users' API keys could explain how hackers eluded Binance's two-factor authentication system. Binance resumed his commercial activities the next day, on March 8.