"As a show of good faith on our side, we are willing to commit to making a bug bounty payment of $ 250,000 to you as soon as we can establish the necessary account and acquire Bitcoin."According to CNBC, the email was sent by IT employees from HBO on July 27, 4 days after the hacking group initially requested a ransom from HBO. CNBC also noted that employees who sent emails to the hacking group were very careful with his words, and offered him $ 250,000 as a bounty bug payment rather than a ransom. Various sources including insiders close to CNBC revealed that the $ 250,000 bid was just a delayed tactic put forward by the HBO team.
This incident is very difficult for HBO because there is no guarantee that hackers will not release scripts, or personal information including the home address of the actor, actress, and producer of the TV show after receiving a $ 250,000 ransom payment.
It makes sense for HBO to decide not to cooperate with hackers since there is no guarantee that the group will not demand further ransom payments or still release scripts for the show. However, it is also possible that HBO is actively investigating how they can obtain Bitcoin.
For companies that have never dealt with Bitcoin before, buying digital currencies on trading platforms like Coinbase, GDAX and Gemini can be difficult. At Coinbase or GDAX, the process of purchasing $ 250,000 in Bitcoin is complex and it will likely take more than a week to complete. For example, if HBO decides to buy a bitcoin in Coinbase, Know Your Customer (KYC) verification will be required to increase daily trading limits. Users on the Kraken include a large WhalePanda trader saying that they spent months getting approval from the Kraken team.
Assuming that HBO can verify its account within a week, it will take time to send money and receive Bitcoin with from Coinbase. It is possible if Coinbase provides special support to HBO given the urgent situation, it takes at least two weeks for HBO to get $ 250,000 bitcoin.
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