Huobi Exchange Reclaims Stolen 5,000 ETH From Hacker

The crypto-exchange Huobi has successfully recovered the entire sum of 5,000 ETH, valued at approximately $8 million, which had been stolen in a hacker attack that occurred in late September. In a significant development, Justin Sun, co-founder of Tron, confirmed the return of the stolen funds and reported that, in accordance with the agreement, the hacker received a 250 ETH white hat bonus, equivalent to $400,000.

The hacker responsible for the breach at the Huobi crypto-exchange has now fulfilled their commitment by returning the entirety of the 5,000 ETH, with a market value of $8 million, that was illicitly taken in the late September incident. As part of the arrangement, the hacker received the agreed-upon 250 ETH white hat bonus, which amounts to $400,000.

This noteworthy resolution was officially confirmed by Justin Sun, serving as the culmination of the narrative that had been previously shared with his followers.

Justin Sun publicly commended the hacker’s decision to return the stolen funds to the centralized crypto-exchange, emphasizing that it was indeed the “right choice.” In addition, Sun underscored the challenges of safeguarding users’ assets and stressed the imperative of bolstering blockchain security.

The pivotal moment in this saga occurred on September 25th, when Sun issued a series of tweets addressing the hacker attack on Huobi Global, now rebranded as HTX. Notably, Justin Sun serves as an advisor to Huobi, which prompted his determination to publicly disclose the incident. His aim was to provide reassurance to crypto-exchange users, assuring them that the losses had been covered, and the platform was fully operational once more.

During this Twitter thread, Sun clarified that the $8 million worth of ETH stolen constituted a relatively modest amount compared to the $3 billion in assets held by Huobi users. Furthermore, he highlighted the crypto-exchange’s swift success in securing all funds, enabling uninterrupted trading operations for its users.

In the same series of tweets, Sun made a commitment to offer a substantial reward of $400,000 to the hacker should they choose to return the stolen funds. Alongside the white hat bonus, Sun extended an offer of employment to the hacker as a “security consultant” at Huobi. However, he also made it clear that if the hacker did not opt for the “right choice,” the crypto-exchange would escalate the matter to law enforcement authorities.