Crypto exchange website is designed on very secure server,but a single bug can let hacker in and make transaction of millions like we are witnessed in case of coincheck . Big Cryptocurrency exchange name binance with a market cap of more then 8$ billon get hacked by hacker on there website , after some user reported about ongoing suspicious activity from third party tool at last week.
In order to tackle any other incidents by hacker, Binance is offering $250,000 (paid in cyptocurrency via binance coin) for information that lead to arrest hacker who get targeted user last week
On March 7, the exchange faced a minor security breach involving registered API keys led to irregular trading activity with a few users seeing unauthorized trades and Binance is looking to retaliate against the hackers, as it said in a 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 the time of transfer.”
Nowadays cypto-industry is facing serious hacking therats over last few months and binance and some other cypto exchanging company trying to minimize problem and taking precautionary measures to get safe from Hackers . Cypto-industry trying to collaborate to solve this issue and say “we have also invited other exchange and cypto business to join our initiative”
Nowaday Hacker become a big problem in the cypto world, So company are trying to defeat hacker and try to save world from hacker