In a surprising turn of events, the elusive hacker responsible for breaching HTX Global, formerly Huobi, has made amends by returning the entire sum of stolen assets. Blockchain analytics insights provider Lookonchain reported that a substantial amount of 4,999 Ether (ETH), valued at an impressive $8.2 million, has been refunded to HTX Global.
The security breach that sent shockwaves through the cryptocurrency community occurred last Monday when an unidentified hacker successfully infiltrated the HTX Global platform, resulting in the staggering loss of Ethereum assets.
In a swift response to the attack, TRON founder and the exchange’s advisor Justin Sun wasted no time assuring the public that the losses incurred from the hack had been fully covered and all associated issues were promptly resolved.
HTX’s Response To Cyberattack
Sun emphasized that the stolen funds represented only a fraction of HTX Global’s vast asset pool, boasting a staggering $3 billion. To incentivize the hacker’s act of goodwill, a substantial 5% Whitehat reward, amounting to $400,000, was pledged if the stolen funds were returned. Furthermore, the hacker was offered the prestigious role of security Whitehat advisor should a voluntary refund be initiated expeditiously.
Sun revealed that HTX’s security team had detected the breach. Interestingly, before this discovery, on-chain security firm Cyvers Alerts had already flagged suspicious transactions linked to the Mixin Network. These transactions led investigators to the hacked funds, tracing them back to HTX and the renowned cryptocurrency exchange Binance.
This cyberattack on HTX Global unfolded just weeks after rumors regarding the exchange’s financial stability had begun circulating. Notably, prominent developer and Dogecoin (DOGE) advocate Mishaboar had advised DOGE holders to withdraw their assets from the exchange, citing concerns about the exchange’s opaque Proof-of-Reserve claims.
Proof-of-reserve claims, often touted as indicators of a protocol’s financial health, were criticized by Mishaboar for their potential to mislead and provide an inaccurate representation of an exchange’s actual liabilities. Justin Sun urged the community to dismiss the rumors to quell these growing concerns.
With the unexpected news of the hacker’s full refund, customers are likely to regain trust and security in HTX Global amidst the recent controversies. The return of stolen assets serves as a beacon of hope for cryptocurrency enthusiasts and reinforces the resilience of the digital asset ecosystem in the face of adversity.