White Hat Hacker Recovers $2 Million in Ether from 2016 Hong Coin ICO Smart Contract Bug
By
@cointelegraph
Summary
A pseudonymous white-hat hacker known as "0xflorent" helped recover approximately $2 million worth of Ether (1,003 ETH) from a faulty smart contract tied to the Hong Coin (HONG) ICO from 2016. The decentralized venture capital fund failed to reach its funding goal and never launched. A bug in the contract's refund function prevented 48 investors from automatically getting their funds back for nearly a decade. The white hat worked with the project's creators to recover the locked funds.
Source
bskyWhite Hat Hacker Recovers $2 Million in Ether from 2016 Hong Coin ICO Smart Contract Bugcointelegraph.comKey quotes
· 2 pulledThe contract held all the investors' ETH and was supposed to auto-refund them.
a bug in the refund function quietly broke that, and the
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