Huobi’s HTX Exchange Recovers Stolen Funds After Hack
In late September, Huobi’s global exchange, HTX, experienced a security breach resulting in the theft of 4,997 ETH (worth around $7.9 million) from its hot wallet. HTX CEO Justin Sun quickly identified the attacker and offered a 5% white hat bounty if the funds were returned within a week. Hours after the attack, Sun assured the community that all stolen funds had been covered by the exchange’s reserves.
Hacker Returns Funds
Despite missing the initial deadline, the attacker eventually returned all the stolen funds to HTX’s hot wallet. Security researcher ZachXBT confirmed this transaction. Surprisingly, HTX also sent back the promised white hat bounty of 250 ETH to the attacker. The reason for returning the entire amount before receiving the bounty is unclear.
Conclusion: Attacker Receives Bounty and No Legal Action Taken
Although it is unusual for an attacker to return all funds before receiving the bounty, this may have been done to prevent any future legal action against them. With the return of all stolen funds and the payment of the white hat bonus, Huobi expressed gratitude to everyone in the industry for their assistance in resolving this incident.
Hot Take: Huobi’s Quick Recovery Sets a Positive Example
The swift recovery of stolen funds by Huobi’s HTX exchange demonstrates their commitment to maintaining user asset security. By covering the losses and engaging with the attacker through a white hat bounty offer, they managed to resolve the issue without resorting to legal action. This incident highlights how proactive and transparent measures can help crypto exchanges recover from security breaches effectively.
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