Justin Sun Offers Poloniex Hack Mastermind $10M Bait — Will They Fall For It? 

YEREVAN (CoinChapter.com) — Tron Founder Justin Sun has offered Poloniex hack mastermind a $10 million white-hat reward. For the unversed: it is the same hacker who stole over $120 million from the crypto exchange earlier in November. 

On Nov. 18, Sun promised not to take action against the hacker should they return the stolen funds in seven days. Sun owns a majority stake in the crypto exchange. He claims to have identified the hacker. 

“Return the stolen funds by the 25th of November, 2023, and we will offer a $10 million white hat reward. If not returned by that time, police forces from multiple countries will initiate legal action,”

Sun’s message to the hacker reads.

As a result of the hack, the attacker stole various digital assets. The list includes $3.1 million in XRP, $32 million in USDT, 244 ETH, and 86.5 Wrapped Bitcoin (WBTC).

Moreover, the hacker illegally seized 35 types of TRC-20 tokens. In response, Poloniex assured compensation to the users. It also temporarily halted both withdrawals and deposits on the exchange.

Will Poloniex Hacker Fall for Justin Sun’s “Bribe”?

Although generous, Justin Sun’s offer to Poloneix hack mastermind is somewhat like cheese kept as bait to trap a mouse.

On the one side, the hacker gets a “free” $10 million to spend as he wishes. On the other, he has to send back the remaining $110 million (which may increase in the future).

Now, if the person who holds that amount thinks he can get away with it, why would he settle for cheap? However, as Sun notified him through the blockchain messages, the Poloniex hacker will be unable to use the funds as they were being tracked. 

But here is the main catch. Sun has already informed law enforcement officials in China, the United States, and Russia of the hack. They are involved in the ongoing operation. 

As one Reddit user pointed out, this complicates things for the hacker. Even if Sun promises not to pursue the case, there is no guarantee that the authorities won’t. 

Imagine if the Poloniex hacker believes Sun and sends the funds back, only to be arrested anyway. Not that he doesn’t deserve it, but wouldn’t that be a deception?

There, of course, is the chance that the hacker has a foreign Government’s patronage. For example, the notorious North Korean Lazarus Group has attacked crypto companies and the government in the past.

Whether or not the hacker will accept Justin Sun’s generous yet tricky $10 million offer remains to be seen.