Ethical Hacker Frees $2M in Ethereum Trapped Since 2016 ICO Failure
The post Ethical Hacker Frees $2M in Ethereum Trapped Since 2016 ICO Failure appeared on BitcoinEthereumNews.com. Key Points Security expert “0xflorent” successfully freed approximately 1,003 ETH (valued at roughly $2 million) from a 2016 HongCoin ICO smart contract after nine years An error in the contract’s refund mechanism prevented investors from withdrawing their ETH when the ICO failed to meet its fundraising target The researcher collaborated with HongCoin’s team to leverage an integer overflow flaw in an administrative function to release the locked assets 48 initial investors are now able to retrieve their ETH; two participants have already withdrawn 96.5 ETH (approximately $193,000) The researcher accepted no compensation — only voluntary “whitehat rewards” from grateful investors A cybersecurity expert has successfully released approximately 1,003 Ether valued at around $2 million that remained trapped in a 2016 ICO smart contract for almost ten years. The cryptocurrency bel