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Following a significant security breach in September, Huobi Global's HTX has successfully reclaimed stolen cryptocurrency funds. In appreciation for resolving the situation, the exchange platform has given a reward of 250 Ether (ETH).
On September 25, a hacker made away with 5,000 ETH, equating to an approximate value of $8 million. The company quickly reached out to the individual responsible for the breach, indicating they had insight into their identity. To encourage the return of the stolen assets, HTX proposed a deal: a 5% bounty, which is about $400,000, in exchange for 95% of the stolen funds. They also promised to refrain from pursuing legal repercussions if the funds were returned by October 2.
On October 7, a message from Justin Sun, an investor and adviser for HTX, acknowledged the hacker's cooperation and expressed his gratitude to those in the crypto sector who assisted. Sun also emphasized the dedication of the company to enhancing its security measures to ensure the safeguarding of user assets. He thanked the platform's users and the broader community for their ongoing support.
However, the third quarter of 2023 has seen a spike in security breaches across the cryptocurrency landscape. Data from the blockchain security platform, Immunefi, highlighted that crypto and Web3 platforms faced 76 hacks in Q3 2023. This is more than double the 30 recorded in the same period of 2022.
In the same week of the HTX incident, the Mixin Network, a decentralized cross-chain protocol, experienced a breach where approximately $200 million was stolen. The breach resulted from an exploitation of a vulnerable third-party cloud service provider. To retrieve the stolen funds, Mixin Network proposed a $20 million reward. Yet, recovery of these funds remains uncertain.
Anne Neuberger, the deputy national security adviser for cyber and emerging technology in the United States, shared with Bloomberg on October 6 a suspicion that North Korean cybercriminals might be connected to the Mixin breach. She cited similarities in techniques previously associated with the DPRK.
