Enigmatic billionaire crypto trader Zhao Changpeng has put up a bounty to try and bring crypto exchange hackers to justice.
As revealed in The Chain on Friday, the exchange that Zhao founded, Binance, was the target of a recent sophisticated hack attempt that attempted to both manipulate the market and steal coins.
The company the claimed “all funds are safe” but Binance is one of the largest exchanges in the world and the industry have been blighted by a series of hacks in recent months. So Zhao is offering the equivalent of $250,000 (paid of course in crypto-currency) for information that will lead to the arrest of the Binance hackers and has set aside another $10 million for future rewards. Forty-one-year-old Zhao, who thanks to crypto-currency is one of the youngest billionaires in the world, is encouraging other platforms to follow his lead.
Many have written that these hacks could emanate from North Korea and if this is true, Zhao’s day in court may be more than a few years away.