- Advertisement -
The exchange has already received the funds back. The hacker also received a 5% white-hat incentive, or a remuneration of 250 ETH for restoring the funds, as well as a job offer to work as a white-hat security consultant.
Huobi GlobalHTX crypto exchange has confirmed the return of the funds stolen in September. The total amount of the refund is $8.2 million, worth 4,999 Ethereum (ETH, It seems that the company has negotiated with the hacker, and as a result of the negotiation, the hacker chose the “right option” by agreeing to return the stolen funds. Specifically, HTX has offered a 5% white-hat incentive or a remuneration of 250 ETH to the hacker for restoring the funds.
htx advisor justin sun Took to X platform to share the news.
We have confirmed that the hacker has returned the full funds as promised, and we have also awarded the hack a white hat bonus of 250 ETH. The hacker made the right choice. We’d like to thank everyone in the industry for their help!
– His Excellency Justin Sun 孙宇晨 (@justinsuntron) 7 October 2023
In addition to the whitehat incentives, the hacker was also offered a job opportunity as a white-hat security consultant in exchange for a prompt and voluntary return.
justin sun where did it go,
“Strengthening blockchain security and protecting user assets is never an easy task, and we are working tirelessly! Providing complete security for user assets is always the goal we strive for! We are grateful for the continued support of our users and community!”
On September 24, CyversAlerts, a crypto security organization, reported the cyberhack, citing a vulnerability in one of HTX’s hot wallets as a reason behind it. According to CyberAlerts, the funds were sent to an address that had no previous history. The attacker was immediately identified, and an attractive offer was sent to them by a different wallet belonging to Huobi. Specifically, the exchange offered to allow the hacker to keep 5% of the stolen funds as a “white-hat bonus” if they chose to return the remaining 95% and not reveal the identity of the attacker. Notably, the deadline for validity of the offer to return the funds to the hacker was till October 2. The message was written in Chinese language.
The exchange has already received the funds back.
Increase in hack attacks
The rapid development of modern technologies not only provides many benefits and simplifies our lives but also opens up opportunities for hackers to gain access to one’s data illegally. In 2020, cyber attacks were ranked the fifth top-rated risk, becoming the new norm across the public and private sectors. This trend will continue in 2023 and the number of attacks will increase. 838 cyber attacks have been recorded so far this year, and 71 of them occurred in September alone.
The largest hack attack reported last month led to the loss of $200 million in crypto assets of decentralized finance (defi) Project Mixin Network. as we have informed ofMixin holds $94.48 million worth of Ether (ETH), $23.55 million worth of Dai (Babysitter), and $23.3 million in Bitcoin (B T c) during the hack. Thus the combined value of this portfolio reached $141.32 million. Similar to Huobi, Mixin Network offered a $20 million bug bounty if the hackers returned the funds, however, chances of getting a refund are slim.
Darya is a crypto enthusiast who strongly believes in the future of blockchain. Being a hospitality professional, she is interested in exploring the ways in which blockchain can transform various industries and bring our lives to a different level.
Bitcoin Crypto Related Post