Cryptocurrency exchange CoinEx, which recently suffered a breach, called on the hacker to negotiate with the company while also promising a generous reward if they decide to return the stolen assets.
The notorious North Korean-sponsored Lazarus Group has been identified as the hackers behind the CoinEx attack.
Let’s Dialogue, According to CoinEx its Hackers
In a open letter on September 15, CoinEx stated that the hack incident served as a lesson for the company and made the team more aware of the importance of ensuring strong security of the platform’s assets.
The letter, addressed to the hackers, calls for dialogue and negotiation with the actors responsible for the attack, noting that the stolen assets represent millions of customers who trust the crypto exchange.
“We hope you understand the impact of this incident on each of the users. We would appreciate it if you could understand the concerns and frustrations of these affected users. We sincerely invite you to work with us to resolve this issue in a safer, more rational, and more user-friendly way.
CoinEx is also offering a “generous bug bounty” to hackers if they return assets while also promising to improve its security infrastructure. The company further extended an invitation to the attackers to work with the company in future upgrades to its security system.
As previously reported by CryptoPotato, the CoinEx hack happened on Sept. 12, with attackers draining around $55 million in assets from the platform’s hot wallets, according to blockchain security outfit SlowMist. The incident caused the crypto exchange to halt all deposits and withdrawals amid an ongoing investigation.
Meanwhile, on-chain sleuth ZachXBT identified North Korean hackers Lazarus Group as the entity responsible for the attack.
An Estimated $70 Million Theft From CoinEx
In a separate response update, CoinEx said that while the company is still trying to calculate the extent of the financial damage, findings now reveal that about $70 million was stolen from the platform. , higher than previously reported. However, the crypto exchange emphasized that the theft represented a small percentage of its total assets.
CoinEx did not state when services would resume but said withdrawals would reopen in phases after strict security checks. The company also said it is working on completing wallet upgrades next week while promising to reimburse affected users 100%.
“Currently, we are focusing on upgrading the wallet architecture, calculating losses, and freezing related to suspicious addresses by coordinating with industry partners and exchanging partners. About plans on compensation for stolen property, we are now making options. Compensation will be given per coin, with details to follow in our official announcements later.
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