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NFT Project SATO’s Proof all set to recover 1132 hacked BTC

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Recently, the Twitter account “Where is my 1132 BTC” has received a lot of attention, describing the incident of 1132 BTC lost by hacking in a large centralized exchange Binance in 2018.

Following the FTX flash crash, the security of centralized exchanges and the protection of user account assets have been a hot topic of concern.

With the help of friends, the victim of the hacking attack, Mr. Sato plans to launch an NFT project called Sato’s Proof, leveraging the power of the web3 community in a decentralized way. 

Mr. Sato has been in continuous communication with the official Binance customer service and security departments since the hack of his Binance account in 2018. Unfortunately, despite repeated communication and a large amount of assistance material, even though Binance acknowledged its security issues, Mr. Sato has not received a positive response from Binance till now.

On the one hand, Binance has made a lot of publicity about its security and the SAFU Fund which is initiated to protect user assets, and on the other hand, Mr. Sato’s hack problem has not been properly resolved. To alert users to the security of their assets, Mr. Sato now decided to share his experience with more people and hope it would help more people.

‘I will use part of the recovered funds to reward Proof NFT holders who support, help, witness, and respond to the issue. During the same time, it will be used as a start-up fund to support the development of the DAO organization, hoping to help more people or organizations with similar experiences. ‘

Proof NFT serves as an on-chain certificate for community members to participate in events and future rewards. It also records a large amount of related information about the event on the chain in the form of NFT. The holders and communities can evaluate the feasibility and results of the protection of the rights through the content of NFT, and then evaluate the price of NFT.

Mr. Sato, who has been dedicated to the game development industry, is well aware of the health of the crypto industry and its future development.

Therefore, he expressed his hope that through this way, everyone can pay attention to the security of Crypto and centralized exchanges, and he hopes that the community can together maintain the rights and fairness of industry users in the future.

Disclaimer: This is a paid post and should not be treated as news/advice

Ishika is a graduate of Political Science from the University of Delhi. From writing content as a hobby to now pursuing it as a professional career, she has been living and breathing content all her life. Her interests lie in making sure articles are very digestible to a common reader, despite all its technicalities and jargons.

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