Crypto firm Tron went through cyber-attacks but managed to punish the wrongdoers and retrieve the huge appropriated funds.
On November 18-19, Justin Sun, the owner of the crypto exchange Poloniex and founder of the blockchain-based digital platform Tron sent Ether tokens for $0.10, warning the hackers that they had been spotted by the police. Law enforcement agencies from Russia, China, and the US were involved in the investigation.
The transactions were accompanied by messages saying that all stolen crypto assets were flagged. It was highlighted that due to this, hackers would be unable to use them. Moreover, Justin Sun warned that the accounts belonging to individuals or legal entities that attempt to interact with the hacker would be blocked.
Afterwards, the Tron CEO offered the wrongdoers a 5% reward for the return of the stolen assets. A few days later, the cryptocurrency exchange increased the reward to $10 million. However, Justin Sun cautioned that such an offer was valid only until November 25, 2023. If no response follows, law enforcement will launch an operation to entrap the hackers. Eventually, the operation was a success!
On November 10, 2023, Poloniex suffered a major hack, during which crooks withdrew several assets from the exchange: ETH worth $56 million, TRX worth $48 million, and BTC worth $18 million. Following the incident, the management disconnected the "hot wallet" for maintenance and began an investigation. Additionally, Poloniex promised to reimburse all customers who incurred losses due to the hackers.