Binance will pay $250,000 for information about scammers

Last week was marked by unprecedented trading activity for the popular exchange Binance due to a hacker attack. Although the scammers were not able to hack the site, its representatives saw this as an alarming signal. After this, they announced that they were willing to pay BNB equivalent to $250,000 for information about the scammers, according to the exchange’s blog.

The reward to the person who reported the information will be paid at the exchange rate on the day the information was submitted. Moreover, those who provide data can remain completely anonymous if their jurisdiction allows it. It is quite natural that if several persons provide information, the amount of the reward will be divided between them.

The surprises from Binance do not end there: the exchange has officially announced its intention to create a grant fund in the amount of $10 million. The funds of the fund will be used to pay rewards for information about scammers. Representatives of the site suggest doing the same to other cryptocurrency exchanges.

“To ensure the safety of the cryptocurrency community, we cannot simply play on the defensive. We must actively prevent any hacking incidents before they occur, as well as conduct investigations into crimes that occur. Although the attack on Binance on March 7 was unsuccessful, it is clear that it was large-scale and well-organized. This cannot be left just like that,” reports Binance.

Recall that on March 7, attackers managed to organize a series of phishing attacks on customer accounts, and thus manipulate the market

According to https://support.binance.com