After offering a settlement to the hacker who stole $8 million from its users, HTX, previously known as Huobi Global, gets a favorable return. The hacker agreed to return 95% of the stolen assets.
Hacker responds to HTX proposal and returns 95% of funds
On September 25, the crypto community witnessed a hack that shook users of HTX when a hot portfolio was emptied of 5000 ETH ($8 million). HTX did not sit back and acted swiftly to identify the cybercriminal and implement strategies to recover the funds.
Thus, the company publicly proposed a deal to the hacker: a reward of 250 ETH, ($400,000) if the hacker agreed to return 95% of the funds. Their efforts paid off.
On October 7, Justin Sun, the CEO of HTX revealed that the pirate had accepted their offer, returning most of the stolen funds.
This incident occurred at a time when attacks on cryptocurrency platforms were on the rise. The week of the HTX hack, Mixin Network also suffered a major blow, losing nearly $200 million.
According to a recent Immunefi report, the third quarter of 2023 was marked by 76 hacks, more than double compared to the same quarter of the previous year when 30 incidents were recorded.
As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.