Huobi: $8 million hacker returns all funds to crypto-exchange

All’s well that ends well! The crypto-exchange Huobi has received all 5,000 ETH (the equivalent of $8 million) robbed in the late September hacker attack. 

Justin Sun, co-founder of Tron, confirmed that he was paid, in return, the 250 ETH white hat bonus, the equivalent of $400,000. 

Huobi: hacker returns all 5,000 ETH robbed from crypto-exchange

Hacker of the crypto-exchange Huobi has returned all 5,000 ETH, the equivalent of $8 million, he stole in late September. 

In return, as promised, the hacker got his 250 ETH white hat bonus, the equivalent of $400,000. 

Confirming this on X, it was Justin Sun, as the “grand finale” of the whole story previously told to his followers.

Strengthening blockchain security and protecting user assets is never an easy task, and we have been working tirelessly! Providing full security for user assets is always our goal to strive for! We are thankful for the continued support of our users and community!

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

Sun wanted to say publicly that the hacker made the “right choice” by returning the stolen funds to the centralized crypto-exchange. Not only that, Sun also pointed out that it is not easy to protect users’ assets and that there is a need to strengthen the security of the blockchain. 

Huobi and the September hacker attack on the crypto-exchange

It was exactly on September 25, when Sun had posted a roundup of tweets talking about the hacker attack on the crypto-exchange Huobi Global, rebranded to HTX. 

The founder of Tron (TRX) is also an advisor to Huobi. For that very reason, he was the one who wanted to publish what had happened, so as to reassure crypto-exchange users that they had managed to cover their losses and get the platform back up and running. 

Specifically, Sun had reassured that the total robbed funds figure of $8 million in ETH was a small figure compared to the $3 billion in assets held by Huobi users. 

Not only that, the crypto-exchange appears to have succeeded in the short term in securing all the funds so that the platform can continue to offer its users normal trading operations. 

Also, in the same roundup of tweets, Sun had promised the infamous $400,000 reward to the hacker if he decided to return all the stolen money. Along with the white hat bonus, Sun had also promised the hacker an employment by Huobi as a “security consultant.” 

After publishing part of the “corrupted” addresses, Sun finally reported that if the hacker did not make “the right choice,” the crypto-exchange would transfer the case to law enforcement authorities. 

Huobi’s rebranding to HTX

In mid-September, Huobi made its rebranding to HTX, the crypto-exchange’s new international identity. 

This is a strategic move to elevate its global presence and better cater to its English-speaking user base. 

Again, leading that transformation of the crypto-exchange is Justin Sun, who aims to position HTX as a powerhouse in the ever-expanding world of digital asset trading. 

Basically, Sun, Huobi’s visionary consultant, wants to “transcend the China-dominated image” of the crypto-exchange. This will only be possible after HTX works with governments in different regions. At the moment, it seems that Lithuania, Dubai, Australia, and Latin American countries such as Argentina and Brazil are in the mix.