It's like an old John Wayne film...

In a move reminiscent of an old western movie, Binance has issued a bounty reward of $250 000 USD to anyone who provides information leading to the legal arrest of hackers involved in the failed attack that took place on March 7, 2018, as read in this statement:

The first person to supply substantial information and evidence that leads to the legal arrest of the hackers, in any jurisdiction, will receive the equivalent of $250,000 USD in BNB. The exchange rate will be determined at time of transfer.

(source)

The exchange insists it can not just "play defense", but must instead go on the offensive against malicious hackers, and goes on to call on other exchanges to create hacking bounty funds to protect against such incidents. Binance has set aside $10 million USD in future bounty rewards for protection against future hacking incidents.

Anyone who does feel that they have information that could lead to the arrest of these hackers is encouraged in the post to email Binance at [email protected]

The world of cryptocurrency is indeed a "wild west" of sorts, with little in the way of controls to enforce legal behaviour. It will be interesting to see if this initiative is adopted by other exchanges and leads to a coordinate effort to crack down on hacking without outside intervention.

source:

https://support.binance.com/hc/en-us/articles/360001615252-Binance-Hacker-Bounty

image source:

https://www.freepik.com/free-photo/wanted-poster_640206.htm