Cryptocurrency Exchange HTX Recovers Stolen Funds and Pays Hacker Reward
Cryptocurrency exchange HTX (formerly Huobi) has successfully recovered the crypto funds that were stolen by a hacker in late September. The company has also honored its promise to pay a 5% white hat bonus to the hacker after reclaiming the stolen funds.
Hacker Exploits Vulnerability and Steals 5,000 ETH
On September 25, the HTX exchange fell victim to a vulnerability, resulting in the theft of 5,000 ETH from one of its hot wallets. HTX contacted the attacker and verified their identity.
HTX Pays Hacker 250 ETH White Hat Reward
On October 7, HTX confirmed that it had received the entire stolen funds and paid the hacker a white hat reward of 250 ETH (approximately $410,000), as promised. The company’s adviser, Justin Sun, expressed gratitude for the support of users and the community.
“We have confirmed that the hacker has fully returned all funds, as promised, and we have also paid the hack a white hat bonus of 250 ETH. The hacker made the right choice.”
– H.E. Justin Sun 孙宇晨 (@justinsuntron)
The hacker left a message explaining how they exploited HTX’s hot wallet and advised the exchange to change its hot wallet address and reduce its rate. HTX responded by requesting a security vulnerability analysis report from the hacker to prevent similar incidents in the future.
$330 Million Lost to Crypto Exploits in September
In September, various security breaches resulted in approximately $332 million worth of crypto assets being stolen through exploits, exit scams, and flash attacks. Exploits accounted for over 98% of this figure, while rug pulls and flash loan attacks accounted for less than $2.5 million.
“CoinEx Global fell victim to an exploit, resulting in the loss of nearly $70 million in crypto assets. Mixin Network suffered the most significant attack in September, with $200 million drained from the decentralized finance protocol.”
HTX’s successful recovery of stolen funds provides some relief amidst the high number of crypto-related security incidents in recent months.
Hot Take: HTX Sets a Positive Example in Addressing Security Breaches
The recovery of stolen funds by HTX and the payment of a white hat reward to the hacker demonstrate the company’s commitment to strengthening blockchain security and protecting user assets. By encouraging hackers to act responsibly and report vulnerabilities, HTX sets a positive example for the industry. However, it is crucial for cryptocurrency exchanges to remain vigilant and implement robust security measures to prevent future attacks.
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