Huobi Global finally managed to recover its hacked funds
The cryptocurrency exchange was successful in recovering funds that were hacked at the end of September
In a surprising victory against cybercrime, Huobi Global’s HTX cryptocurrency exchange has managed to recover funds stolen by a hacker in late September. In this incident, 5,000 ETH, valued at approximately USD 8 million at the time, were compromised and drained from one of HTX’s hot wallets.
However, what really stands out in this case is the unusual way in which Huobi Global recovered the funds and resolved the situation. After establishing contact with the hacker and confirming his identity, HTX opted for an extremely conciliatory solution.
They offered a 5 % reward, equivalent to about $400,000 in Ether, and agreed not to take legal action if 95% of the stolen funds were returned by the October 2 deadline.
At a time when stablecoins in the cryptocurrency world have faced considerable challenges over the past eighteen months, this successful resolution stands out as a ray of hope in the industry.
According to data provided by DeFiLlama, a crypto data provider, the total market capitalization of these digital assets has seen a 35 % drop, especially following the collapse of Terraform and its native stablecoin last year.
K. Tovar
Source: Criptotendencia
(Reference image source: Unsplash+)
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