On September 24, a major security breach sent shockwaves through the cryptocurrency community as Huobi Global HTX crypto exchange fell victim to a massive hack.

The Heist: A $7.9 Million Caper

The incident happened at precisely 10:00 am UTC on September 24. This was when the suspected Huobi hot wallet with the address 0x2Abc22eb9A09EbBE7b41737CCde147F586EfeB6A executed a cunning maneuver. It transferred 4,999 Ether, valued at a staggering $7.9 million, to an address previously devoid of any transaction history.

In a surprising twist, Huobi Global didn’t sit idly by. Instead, they opted for a bold move. A wallet linked to Huobi Global, subsequently identified as a Huobi hot wallet by blockchain analytics platform Arkham Intelligence, communicated directly with the attacker in Chinese.

The Exchange’s Daring Offer

The message from Huobi carried an offer: the exchange claimed to have unraveled the identity of the attacker. In a show of goodwill, they proposed that if the attacker returns 95% of the drained funds, they would be entitled to keep 5% as a “white-hat bonus.” This extraordinary offer was set to expire on October 2, 2023, giving the attacker a seven-day window to act.

Cyvers Sounds the Alarm

The breach didn’t remain a secret for long. Cyvers, a prominent blockchain analytics platform, promptly reported the hack on September 25. The swift response from Cyvers helped shine a spotlight on this high-profile incident.

As the investigation unfolds, the crypto community awaits with bated breath. This is to see if the hacker will accept the exchange’s offer or face the consequences of their actions. The security of the blockchain ecosystem hangs in the balance.

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