Bitfinex announces to offer $400 million in reward to find the hacker.

The crypto exchange giant Bitfinex recently announced that it’s giving out up to $400 million in reward if any individual can connect them to the hacker that stole 119,755 BTC worth $.344 billion from the platform four years ago. The crypto exchange giant is offering any individual that can put them in touch with the hacker 5% of the total property recovered and is offering the hacker 25% of the recovered property. 


The announcement came four years after the hack took place. 

The announcement by the crypto exchange giant Bitfinex came four years after the hack took place on August 2, 2016. Even though the hack took place four years ago, the crypto exchange has been actively trying to locate and identify the hacker since the breach took place. In February 2019, U.S. authorities recovered 27.66270285 BTC stolen in the hack. Since June last year, the funds from that 2016 hack have been continually moving out of the hacker’s wallet. Just last week, more than $20 million from the 2016 Bitfinex hack was reportedly transferred to an ‘unknown wallet.’


Crypto scams continue to rise amid the ongoing global pandemic. 

As reported earlier, cybersecurity firms identified an exponential surge in the cryptocurrency-related scams that occurred in Russia in the first half of this year. Researchers identified 23,000 websites involved with crypto scams that are still active and are targeting new victims in Russia. Scams related to cryptocurrency have increased around the world amid the ongoing COVID-19 pandemic. 

Many countries around the world have reported a surge in crypto scams that included a spike in ransomware attacks, Ponzi schemes, and other different types of scams involving cryptocurrencies. There are several types of crypto scams that have become frequent: fake giveaways, sextortion, fake exchanges, fake ICO’s, bitcoin recovery, video scams, and Ponzi schemes, and many others. 

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