Huobi Reclaims $8 mn In Stolen Ethereum
Huobi Global, a cryptocurrency exchange, has successfully recovered millions of stolen funds from a hacker who absconded in September after negotiating a return deal with the attacker.
Huobi Global investor Justin Sun announced that $8 million in stolen Ether (ETH) was restored and that the hacker made the right choice to accept HTX’s offer. Sun confirmed that the hacker has fully returned all funds and paid the hack a white hat bonus of 250 ETH. Sun emphasized the goal of providing full security for user assets.
HTX disclosed a hack on September 25 after a hot wallet was compromised and 5,000 ETH was drained. CEO Sun assured customers that the amount was small compared to HTX’s $3 billion assets. HTX offered 5% of the stolen ETH as a “white-hat reward” to encourage the hacker to return the funds, but warned of contacting law enforcement if the offer wasn’t accepted.
(With inputs from Shikha Singh)
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