Huobi Global's HTX Recovers Stolen Assets; Issues Hacker 250 ETH Bounty Amidst Q3 Crypto Hacks Spike
Summary:
Huobi Global's crypto exchange HTX has successfully recovered stolen assets from a September cyber attack, along with issuing a bounty of 250 Ether. The hacker, who stole around $8 million worth of ETH, returned the assets after HTX offered a 5% bounty and promised no legal action. The Q3 2023 has seen a significant rise in crypto hacking incidents, with 76 businesses affected compared to 30 in Q3 2022.
Crypto exchange HTX, managed by Huobi Global, has announced the recovery of assets stolen during a late September cyber attack, alongside the issuance of a reward or "bounty" of 250 Ether (ETH). The attack that took place on September 25 saw the loss of 5,000 ETH, equivalent to around $8 million, from one of HTX's online wallets. Following the theft, HTX reached out to the hacker, asserting their knowledge of the thief's identity. The company proposed a resolution involving a reward equivalent to 5% of the stolen assets (approximately $400,000), and guaranteed the absence of any legal consequences if the hacker returned 95% of the stolen assets before October 2.
On October 7, Justin Sun, an adviser and investor for Huobi Global, confirmed in a public post that the individual involved had indeed returned the assets. Sun thanked all those in the industry that assisted during this incident. He also expressed a commitment by the platform to enhance the blockchain security and protect users' assets, thanking users and the community for their unwavering support. According to Sun, the platform fulfilled its promise, rewarding the hacker with a white-hat bonus of 250 ETH for return of the stolen funds.
The third quarter of 2023 has observed an upsurge in crypto hacking incidents. As per a report from blockchain security company Immunefi, 76 crypto and Web3 firms/projects fell victim to hacks, contrasted with 30 in Q3 2022. In the chain of events during the week of HTX's attack, a cross-chain decentralized protocol, Mixin Network, suffered a significant exploit of around $200 million due to a compromise in a third-party cloud service. Despite a proposed $20 million bug bounty for asset recovery, the task of fund reimbursement appears unpromising. Anne Neuberger, the deputy national security advisor for cyber and emerging technology, has suggested, in a conversation with Bloomberg that the Mixin hack might be the handiwork of North Korean hackers, citing similar patterns recognized in previous DPRK cyber activities.
Published At
10/8/2023 5:26:47 AM
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