Industry Report: Big Bounty May Help Bitfinex Get its Money Back

Bitfinex has announced that any person offering information about the hackers, leading to recovery of stolen bitcoin will receive 5% of the recovered digital currency as bounty. In the beginning of this month, the Bitcoin industry witnessed one of the biggest hacking incidents of this year. Bitfinex, the Hong Kong-based digital currency exchange reported a security breach on August 2, 2016, which resulted in the platform losing about 119,756 bitcoins. The total losses experienced by the digital currency platform is slated to be around $72 million at the time of the incident. Bitfinex is....

Bitfinex is reportedly offering a reward worth up to $3.6m for the recovery of bitcoins stolen from its exchange last week. The Hong Kong-based startup lost nearly 120,000 BTC in the incident (an amount worth roughly $71m at press time), and now suggests it's willing to offer 5% of these funds (or about 6,000 BTC) as a reward should they be found and returned. The news came social media today in a post by Bitfinex community director Zane Tackett. In response to a question about the existence of such a program, he stated that a bounty would be awarded to anyone who had information that....

As you might have read in our latest article, we’re fierce on safety. As blockchain’s first OS, we need to constantly prioritize the security of our code. That’s why we teamed up with Immunefi, DeFi’s leading bug bounty platform. What exactly is a Bug Bounty? A bug bounty is a financial incentive to independent bug bounty hunters who discover security vulnerabilities and weaknesses in systems. Through Immunefi, Cartesi gives $500,000 in rewards to find bugs to keep our code reliable for all users – additional rewards are also available to earn in the program.....

Bitfinex has offered a reward for the return, or info leading to the return, of the Bitcoin stolen in the recent hack. Reddit user someguy916 posted in the /r/Bitcoin subreddit inquiring as to how much of a reward Bitfinex would be willing to offer for the stolen coins. Zane Tackett, Director of Community and Product development, responded with an offer for a small percentage: “5% of recovery and for information leading to recovery (but no bounty if no recovery); if multiple persons lead to recovery, share pro rata” When pressed to get that offer into a blockchain contract, Tackett....

Back in September, we reported on a blackmailer/hacker who had been DDOS attacking the popular bitcoin sports book Nitrogensports.eu and then blackmailing them into paying a ransom for it to stop. Today, we have been informed by Bitalo.com, a “multi-signature wallet and decentralized exchange” with that they are the latest victim of attacks by the same hacker. The site was offline for two days before coming back online shortly before publishing. Bitalo.com's owners have informed us that rather than give into the hacker's demands, they will be putting up a bounty on the hacker who goes by....