HTX hacker returns $8M in stolen funds, receives 250 ETH white hat bonus

November 16, 2023
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HTX hacker returns $8M in stolen funds, receives 250 ETH white hat bonus

The hacker that ran off approximately $8 million from cryptocurrency exchange HTX Global last month has returned the stolen funds, with the platform rewarding them the promised bounty.

In an Oct. 7 update on social media platform X (formerly Twitter), on-chain sleuth ZachXBT said that the hacker returned 4997 Ether (ETH) to HTX, sharing that the exchange had also rewarded them a white hat bounty of 250 ETH ($410,000).

A few hours later, HTX’s adviser and Tron founder Justin Sun verified ZachXBT’s findings, confirming they had indeed paid the “promised” white hat bonus. He said:

“We have confirmed that the hacker has fully returned all funds, as promised, and we have also paid the hack a white hat bonus of 250 ETH. The hacker made the right choice.”

“Strengthening blockchain security and protecting user assets is never an easy task, and we have been working tirelessly,” Sun penned. “Providing full security for user assets is always our goal to strive for!”

The hack happened on Sept. 24, with Sun confirming the incident occurred the following day. Blockchain data showed that one of HTX's hot wallets lost 5,000 ETH worth approximately $8 million. Following the confirmation of the hack, Sun, at the time, claimed to know the identity of the attacker.

HTX offered to reward the hacker with a 5% bounty on the amount lost, approximately worth $400,000, and not to press charges if they returned 95% of the funds before a deadline of Oct. 2. On top of the bonus, Sun said the exchange will offer the attacker a post at the company as a security white hat advisor.

Sun’s Oct. 7 update, however, did not mention anything about the promised position at HTX.

September had been riddled with hacks, exploits, and scams, becoming the biggest month of such attacks in 2023. Last month alone recorded a whopping $332 million in losses, adding to the $1.34 billion total of the year, according to blockchain security firm CertiK. July has the second-highest in losses, with $285.8 million worth of stolen funds.

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