Huobi Global’s cryptocurrency exchange, HTX, has successfully recovered funds stolen by a hacker in September and subsequently issued a bounty of 250 Ether as a part of the resolution.
On September 25th, a hot wallet belonging to HTX was compromised, resulting in a loss of 5,000 ETH, which was approximately valued at $8 million. However, the firm swiftly engaged the hacker, asserting they knew the perpetrator’s identity.
In an attempt to recuperate the stolen assets, HTX proposed a deal: the hacker would receive a 5% bounty, equivalent to roughly $400,000, in exchange for returning 95% of the stolen funds by October 2nd.
This offer came with the added incentive that HTX would abstain from pursuing any legal action against the hacker.
By October 7th, the situation was resolved. Justin Sun, an investor in Huobi Global and adviser to HTX, conveyed his gratitude via an X (previously known as Twitter) post, thanking the broader industry for its assistance.
He emphasized, “Strengthening blockchain security and safeguarding user assets is an immense challenge.
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Our constant endeavor is to ensure complete security for user assets, and we’re grateful for the unwavering support from our users and the community.”
2023 has seen a significant uptick in cyberattacks on crypto platforms.
A study by blockchain security company Immunefi revealed that there were 76 breaches on cryptocurrency and Web3 platforms in Q3 2023, a sharp rise from 30 hacks in Q3 2022.
In a similar incident during the same week, the decentralized protocol, Mixin Network, suffered a massive $200 million hack due to a vulnerability in a third-party cloud service.
In response, Mixin Network has announced a $20 million bug bounty for the return of the stolen assets, but recovery seems uncertain.
Adding to the complexity of these hacks, on October 6th, Anne Neuberger, the US deputy national security adviser for cyber and emerging technology, suggested to Bloomberg that North Korean hackers might be responsible for the Mixin Network breach.
Neuberger commented on the familiarity of the techniques employed, noting they were reminiscent of previous attacks attributed to North Korea.
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