As Justin Sun’s cryptocurrency exchange Poloniex gets ready to resume its operation after suffering a massive hack, PeckSheild dropped another update regarding the hacker. However, the global crypto market continued its losing streak for the second consecutive day as Bitcoin (BTC) and Ethereum (ETH) prices dropped marginally.
Poloniex hacker identified
PeckShield, a blockchain security and data analytics company informed that the hackers had been identified. It added that the police forces of China, the USA, and Russia have been involved in this matter.
As per the report, all of the stolen funds have been marked for tracking and cannot be used ahead. The financial counterparties linked to this will also be frozen, it added. However, it is suspected that North Korean hackers were responsible for the incident making recovery difficult.
The warning note has asked the hacker to return stolen digital assets by November 25, 2023. The exchange is offering a $10 million white hat reward to do this. Meanwhile, if the hacker refuses to return stolen assets then the police forces from multiple countries will be asked to take action into this matter.
The crypto exchange ready to operate?
Justin Sun’s cryptocurrency exchange Poloniex in a latest post stated that it is prioritizing user asset security with an extensive update to user wallets. The platform will revamp deposit addresses for all users upon the resumption of deposit and withdrawal services. Users are urged not to make deposits during this update and are instructed to use the new addresses for subsequent transactions.
Failure to comply might lead to uncredited funds for deposits using old addresses post-update. Poloniex plans to restart deposit and withdrawal services in the coming week following thorough security checks. Users are advised to stay tuned for specific resumption details. The platform apologizes for any inconvenience and expresses gratitude for users’ understanding.