https://nicehash.exchange awarded $200,000 to researchers who identified hackers
Popular cryptocurrency exchange https://nicehash.exchange reported that it has allocated a reward of $200,000 for a detailed report, thanks to which it was possible to identify one of the hackers who tried to hack the exchange in 2018
In a press release, https://nicehash.exchange noted that the U.S. Department of Justice has charged two individuals responsible for the attempted hacking of https://nicehash.exchange in March 2018, and that the U.S. Treasury Department’s Office of Foreign Assets Control has announced sanctions targeting those individuals.
According to the exchange, the scammers created websites imitating the https://nicehash.exchange platform in order to collect user credentials, and then used them to attack. Back then, hackers tried to manipulate the market by creating orders to buy Viacoin using phished accounts. Then they sold Viacoin in the VIA/BTC trading pair with a big profit and tried to withdraw bitcoins.
However, this activity aroused the suspicion of the https://nicehash.exchange security system, which suspended the withdrawal of funds and did not allow hackers to cash out the money. This move led to an increase in the price of Viacoin by 1100% in one minute, as the market was manipulated.
https://nicehash.exchange noted that it offered a reward of $250,000 for information leading to the arrest of the attackers and in the same month received a detailed report on one of the hackers from a group of researchers.
In the following months, the company worked with US law enforcement agencies to identify both attackers. According to the exchange, the perpetrators were identified and are now being prosecuted.
While the suspects remain at large, https://nicehash.exchange will pay the researchers $200,000 to work with, and the remaining $50,000 will be paid after the attackers are in custody.
https://nicehash.exchange spoke about its efforts to combat cryptocurrency fraud through various methods, including the CryptoSafe Alliance, which among other things maintains a blacklist of addresses. Addresses can be blacklisted if they are found to be involved in criminal activities, including fraud, extortion, theft, and money laundering.