With the help of better negotiation tactics, the HTX team successfully secured the stolen funds back.
HTX is a popular crypto exchange. This exchange was a Chinese crypto exchange & was launched under the name “Huobi Global” but after the crypto blanket ban in 2021 under the jurisdiction of mainland China, this exchange shifted all of its services outside China. A few weeks back, the Huobi exchange team changed the exchange’s name to HTX exchange.
On 24 Sep 2023, An unknown Chinese hacker exploited the HTX crypto exchange and successfully drained nearly $7.9 million worth of crypto assets.
The HTX team sent a message to the hacker in Chinese language and confirmed the exchange knew about the explorer’s identity and offered to keep 5% of the stolen funds & return the rest of funds.
“We have confirmed your true identity. Please return funds to 0x18709E89BD403F470088aBDAcEbE86CC60dda12e. We will provide you with a 5% white hat bonus. This offer is valid for 7 days and ends on October 2, 2023. If you do not return the funds by the deadline, we will request judicial intervention,” HTX exchange wrote.
Finally, on 7 Oct 2023, the HTX exploiter returned 4,997 ETH to the HTX exchange within the deadline.
Popular Crypto detective ZachXBT reported this information and the HTX team asked the hacker to give the details of how he succeeded in exploiting the platform.
Huobi token price action
Huobi token (HT) is a native crypto token of the HTX exchange and this token provides different types of incentives to the crypto traders in the form of a fee on this exchange.
The current trade price of the HT token is $2.32 & this trade price is 3.31% down over the last 7 days of trade price.