We have previously reported on the issue that Binance had to face on the 7th of March. To sum it up, hackers were collecting login information to Binance accounts through phishing sites that were using Unicode domain addresses. The situation was resolved in a timely manner as the exchange had alarms set for abnormal trading activity. The hackers market bought illiquid coins from the hacked accounts, while setting high sell orders themselves with pre-bought coins. Binance blocked their accounts from withdrawing and refunded those who had their accounts used for malicious activity.

Now they went forward and decided that the best defense is to attack. Binance announced a huge bounty for those who are able to supply information that leads to the legal arrest of the hackers who were involved in the attempt. Even though their servers and exchange were not directly affected by a vulnerability, it seems that they feel outraged that hackers targeted their business with malicious activity. The offer is 250,000 USD worth of BNB (Binance’s house coin) and the exchange rate will be determined at the time of transfer.

If this wouldn’t be enough of motivation for hackers to avoid them they even allocated another 10 mln USD worth of crypto for future bounty awards against any illegal hacking attempts.

Currently Binance seems to lead the way regarding positive business practices among centralized cryptocurreny exchanges.