• About Us
  • Careers
  • Contact
No Result
View All Result
Monday, August 11, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home News Latest News

HTX Recovers $8 Million Lost in Recent Hack, Sets Unconventional Precedent

9 October 2023
in Latest News, News
Reading Time: 3 mins read
109 2
HTX Recovers $8 Million Lost in Recent Hack, Sets Unconventional Precedent

source: cryptoslate.com

HTX (formerly Huobi Global) has successfully recovered $8 million worth of cryptocurrencies that were stolen in a hack that occurred in late September 2023.

Initially, the hack raised serious concern within the cryptocurrency community, as the hacker managed to get away with 5000ETH from one of HTX’s digital wallets.

However, the cryptocurrency exchange acted swiftly in response to the breach. It offered a 5% bounty amounting to approximately $400,000, with the promise not to pursue legal action if 95% of the stolen assets were returned before the stipulated deadline of October 2, 2023. 

Remarkably, HTX’s efforts bore fruit as they were able to identify and engage in negotiations with the hacker, ultimately leading to the successful recovery of the stolen funds. In an unusual twist, the exchange chose to express gratitude to the hacker and offered a reward of 250ETH as a token of appreciation for returning the stolen assets.

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. We would like to express our gratitude to everyone in the industry for their help! https://t.co/SwY49A25h2

— H.E. Justin Sun 孙宇晨 (@justinsuntron) October 7, 2023

HTX’s positive outcome comes at a pivotal moment when the cryptocurrency industry grapples with an alarming surge in security breaches and cyberattacks, especially during the third quarter of 2023.

According to a report by Immunefi, a blockchain security company, there has been a significant increase in reported hacks targeting crypto and Web3 projects and firms compared to the previous year. So far, 76 incidents have been recorded.

HTX Crypto Exchange Recovers $8 Million Lost in Recent Hack
source: assets.ctfassets.net

These hacks have resulted in substantial financial losses, culminating in approximately $332 million in losses in September 2023 alone. 

Noteworthy breaches during this period include the Mixin Network Attack, which incurred a $200 million loss due to a security breach involving its cloud service provider, and an attack on the CoinEX cryptocurrency exchange that led to $53.1 million in losses from its hot wallets.

Some stakeholders have suggested HTX’s unconventional approach may set a precedent and encourage hackers to willingly return stolen funds in exchange for a reward rather than facing potential legal repercussions.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

 

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Tags: HTX
Share64Tweet40Share11
Olumide Samuel Ogunjobi

Olumide Samuel Ogunjobi

Olumide is a seasoned lecturer and accomplished DeFi research analyst with a wealth of experience. Having collaborated with numerous Web3 and FinTech startups, Olumide's primary expertise lies in aiding investors and newcomers in dissecting technical intricacies and noteworthy occurrences bridging the DeFi and TradFi realms.

Related Posts

Standard Chartered Backs Ethereum Treasury Companies Over Spot ETFs for ETH Exposure
Ethereum

Standard Chartered Backs Ethereum Treasury Companies Over Spot ETFs for ETH Exposure

7 August 2025
KakaoBank Sets Sights on South Korea’s Stablecoin Market Amid Regulatory Shift
Regulation

KakaoBank Sets Sights on South Korea’s Stablecoin Market Amid Regulatory Shift

7 August 2025
WLFI to Launch Loyalty Program for USD1 Stablecoin Holders with Selected Crypto Partners
Stablecoin

WLFI to Launch Loyalty Program for USD1 Stablecoin Holders with Selected Crypto Partners

7 August 2025
China Moves to Issue First Stablecoins via Hong Kong
Stablecoin

China Moves to Issue First Stablecoins via Hong Kong

7 August 2025

Editors Picks

Web3 in 2025: Where We Are, What’s Next, and What the Data Says

Web3 in 2025: Where We Are, What’s Next, and What the Data Says

byOlayinka Sodiq
21 July 2025
0

Which Pays Better Right Now: DeFi’s High-Yield Pairs or Traditional Finance’s Cash Vehicles?

Which Pays Better Right Now: DeFi’s High-Yield Pairs or Traditional Finance’s Cash Vehicles?

byOlayinka Sodiq
6 July 2025
0

The Future of Crypto Could Be Institutional—And That’s Not a Bad Thing

The Future of Crypto Could Be Institutional—And That’s Not a Bad Thing

byOlajumoke Oyaleke
30 June 2025
0

What Is a Rebase Token and How Does It Work?

What Is a Rebase Token and How Does It Work?

byOlajumoke Oyaleke
28 June 2025
0

Smart Contracts on Ethereum, Solana, vs. Other Blockchains

Smart Contracts on Ethereum, Solana, vs. Other Blockchains

byOlajumoke Oyaleke
26 June 2025
0

Read More

Chain of Thoughts

What Happens When AI Gets a Wallet?

What Happens When AI Gets a Wallet?

byOlu Omoyele
31 July 2025
0

...

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

DAOs and the Coordination of Human Endeavour

DAOs and The Coordination of Human Endeavour

byOlu Omoyele
27 April 2025
0

...

Markets Update

Your Weekend Crypto Roundup | August 2025 (Week 2)

2 days ago

US Ether ETFs Turn One: What $16.6B in Assets and Bullish Inflows Signal for the Future

1 week ago

Is ETH Restaking Driving Efficiency or Introducing a Dangerous Complexity?

1 week ago

Your Weekend Crypto Roundup | August 2025 (Week 1)

1 week ago

Meta’s $72 Billion AI Investment: A Strategic Shift from the Metaverse to Artificial Intelligence

1 week ago

Is Web3 Finally Solving Its Risk Problem? A Market Review of DeFi Insurance Models

2 weeks ago
Read More

Events

CBDC Conference
CBDC Conference
9 Sep 25
Nassau

Spotlight

All about Ethereum
All about Algorand
All about Bitcoin
All about Gora

Press Releases

The New Bybit Web3 is Here–Fueling On-Chain Thrills with $200,000 Up for Grabs

bychainwire
8 August 2025
0

Moving Forward: Builders Are Proving What’s Possible with CARV’s AI Stack

bychainwire
8 August 2025
0

Caldera Announces Partnership with EigenCloud to Integrate EigenDA V2

bychainwire
7 August 2025
0

BYDFi Card Officially Launches: One Card to Seamlessly Bridge Web3 Assets and Real-World Spending

bychainwire
7 August 2025
0

Bybit’s Ben Zhou Charts Bold New Course to Rewrite Crypto Success at Mid-Year Keynote

bychainwire
6 August 2025
0

Read More

ADVERTISING

ABOUT

TEAM

CAREERS

CONTACT

TERMS & CONDITIONS

PRIVACY POLICY

© Copyright 2025 DeFi Planet

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

Add New Playlist

No Result
View All Result
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

© Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00