HTX Hacker Returns All Stolen Funds
HTX Exchange Turns $8M Hack Into a Win-Win, Rewarding Attacker for Full Fund Return
In a stunning incident, HTX, a well-known global crypto exchange, experienced a hack that led to a loss of nearly $8 million. However, the story took an unexpected turn when the attacker was transformed from villain to white-hat hacker, thanks to a unique offer from HTX's CEO, Justin Sun.
Late in September, HTX was startled by a security incident where 4,997 ETH (approximately $7.9 million) was stolen from its hot wallet. Responding fast, CEO Justin Sun declared that not only had they identified the hacker but also urged them to return the funds, promising a 5% white-hat reward and assurance of no legal action, if they returned the funds within a week.
Impressively, all stolen ETH was covered promptly by the exchange’s own reserves, ensuring user assets were safeguarded. Sun communicated to the community, "**All user assets are #SAFU," confirming a smooth operation of the platform after the incident, and explaining that the loss was only a tiny fraction of the exchange's holdings and revenues.
Though the hacker missed the initial deadline set by Sun, a mutually agreeable conclusion was reached when the stolen amount was fully returned, proving that they had some private communications and negotiations with the hacker. Notably, the entire sum was returned by the hacker first, before the bounty of 250 ETH was released by HTX, suggesting a cautious approach from both parties to avoid future legal problems.
In closure to the event, HTX confirmed, “The hacker has fully returned all funds, as promised, and we have also paid the hacker a white hat bonus of 250 ETH." Expressing gratitude, Sun praised the hacker for making "the right choice" and thanked the crypto community for their collective support throughout the incident.
In essence, the episode shows an unusual blend of cybersecurity, ethics, and negotiation in the digital asset world, forming a narrative where the crisis was avoided through strategic communications and resolutions, causing a rare happy ending in the typical grim tales of crypto hacks.
