Having launched the Binance Hacker Bounty (equivalent to $250,000 USD) a little over a week ago, Monday saw the recently targeted cryptocurrency exchange provide the community with an update on the progress of their generous bounty offering.
Whilst the March 7 cyber attack was ultimately unsuccessful, Binance soon after revealed how they can no longer afford to “simply play defense;” always having to react to hacks as they arrive, rather than proactively monitoring potential threats.
In an effort “to actively prevent any instances of hacking before they occur,” Binance chose to offer a bounty “to anyone who supplies information that leads to the legal arrest of the hackers” behind the March 7 incident.
Some eight days later, and Binance today shared that, on the back of launching the Binance Hacker Bounty, they’ve managed to gather “a lot of information regarding this event,” some of which they believed the public would benefit from knowing.