Tron Founder Justin Sun Offers 5% Cut to Hacker Following Poloniex Disaster

We have recently reported about the terrible Poloniex hack, and more news is out now. Check out the latest reports about Justin Sun’s latest move below.

The founder of Tron (TRX), Justin Sun, has announced a white hat bounty of 5% to the hacker who exploited the Poloniex exchange for $125 million worth of cryptocurrency.

Sun, who acquired Poloniex in 2019, has given the hacker a week to accept the offer and return the assets to their respective wallets. If the hacker fails to comply, law enforcement will be involved.

“We are offering a 5% white hat bounty to the Poloniex hacker. Please return the funds to the following ETH/TRX/BTC wallets. We will give you seven days to consider this offer before we engage law enforcement.”

According to cybersecurity firm PeckShield, a cyber criminal made off with a total of $122 million in cryptocurrency.

The stolen assets include $56 million worth of Ethereum (ETH), $48 million worth of TRX, and $18 million worth of Bitcoin (BTC).

In addition, the thief also took other types of cryptocurrency, such as Tether (USDT), USD Coin (USDC), and Shiba Inu (SHIB), among others, as reported by blockchain tracking company Lookonchain.

The hacker was in a hurry and mistakenly sent $2.5 million worth of Golen (GLM) to the wrong address, effectively destroying the tokens.

According to Justin Sun, founder of TRON and CEO of Poloniex, the exchange will fully compensate the victims and cooperate with other exchanges to retrieve the stolen cryptocurrency.

“We are currently investigating the Poloniex hack incident. Poloniex maintains a healthy financial position and will fully reimburse the affected funds. Additionally, we are exploring opportunities for collaboration with other exchanges to facilitate the recovery of these funds.”

Stay tuned for more reports from the crypto space and make sure to keep your eyes on the market.