Hacker responsible for stealing Ethereum returns entire amount for bounty

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Hacker responsible for stealing Ethereum returns entire amount for bounty

In a surprise turn of events, the hacker responsible for stealing a large sum of Ethereum from HTX Global, formerly Huobi, has refunded the entire stolen amount for the White-Hat bounty offered by the exchange, said Zachxbt.

The hacker accessed the data on Sept. 25, stealing a total of 4,997 Ether, valued at about $8 million as of press time.

The exchange sent the hacker a message with the promise of $400,000, saying: 'I am a serial hacker. '

It is clear that the hacker, now white-hat, will also take up the job offered by the exchange as part of the bounty.

The hacker has left a note urging HTX to alter its system hot wallet address and minimize the system hot wallet rate, attributing the breach to private key leakage.

The wallet, recognized as one of HTX's hot wallets, has received around $500 million in deposits from Binance, the leading cryptocurrency exchange, since its creation in March.

Blockchain analytics firm Lookonchain identified that the money was originally channeled through the Mixin Network, which recently reported a significant loss of $200 million. The money was later traced back to Binance and HTX.

Despite the recent return of stolen funds, confidence in the exchange may have a gradual restoration, despite its recent controversies.

Justin Sun, the HTX advisor and TRON founder, announced in an immediate response to the attack that the company had covered all losses and ensured that all funds were safeguarded. He added that the stolen sum was a minor fraction of the exchange's total assets, which was estimated at $3 billion.

As an incentive for the return of the stolen assets, Sun offered a reward of 5%, amounting to $400,000, to the hacker. The offer offered a further opportunity for the hacker to become a security Whitehat advisor for HTX, provided that the funds were returned promptly.

The incident occurred amid rumors of the insolvency of HTX, with prominent crypto-voices urging people to withdraw their money from the exchange.