CoinEx, the cryptocurrency exchange that recently fell victim to a security breach, has extended an open invitation to the hackers responsible for the attack. In an open letter published on September 15, the exchange urged dialogue and negotiations with the hackers, emphasizing the impact of the breach on millions of trusting customers.

The authorities identified the notorious North Korean-sponsored Lazarus Group as the culprits behind the attack. CoinEx also committed to enhancing its security infrastructure and pledged a generous bug bounty as a reward if the stolen assets were returned.

CoinEx Appeals for Cooperation

The open letter addressed to the hackers conveyed CoinEx’s recognition of the incident’s significance and its impact on the exchange’s users. It called for a cooperative approach in resolving the issue, emphasizing a secure, reasonable, and user-friendly resolution.

Offer of a “Generous Bug Bounty”

CoinEx dangled the incentive of a “generous bug bounty” to the hackers if they chose to return the stolen assets. The exchange also extended an invitation for the attackers to collaborate with the company on enhancing its security systems.

Details of the CoinEx Breach

The hack, which occurred on September 12, resulted in the theft of approximately $55 million in assets from CoinEx’s hot wallets, according to SlowMist, a blockchain security firm. This incident prompted the exchange to suspend all deposits and withdrawals while investigations were ongoing.

CoinEx confirmed that it was still calculating the full extent of the financial damage, with current findings indicating that around $70 million was stolen, surpassing initial reports. However, the exchange stressed that this loss represented a small percentage of its total assets.

CoinEx did not specify when its services would resume but announced that withdrawals would gradually reopen following rigorous security checks. The exchange also pledged to complete wallet upgrades in the coming week and promised to reimburse affected users fully.

CoinEx’s appeal for dialogue with the hackers and its commitment to security enhancements goes on to reflect its determination to address the breach and restore user trust. The cryptocurrency exchange’s proactive approach seeks a mutually beneficial resolution, which offers both a bug bounty and opportunities for collaboration while investigations continue into this significant security incident.

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