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06/02/2026

Whitehat Developer Recovers $2 Million Locked in 2016 Ethereum ICO Contract

What happened: Security researcher 0xflorent discovered an integer-overflow flaw in the HongCoin token sale contract, unlocking $2 million for 48 original investors after nine years.

Whitehat Developer Recovers $2 Million Locked in 2016 Ethereum ICO Contract

What happened: Security researcher 0xflorent discovered an integer-overflow flaw in the HongCoin token sale contract, unlocking $2 million for 48 original investors after nine years. This is the second such recovery by the developer in just over a week.

Why it matters: The recovery highlights persistent vulnerabilities in legacy smart contracts and the ongoing importance of security research. It also demonstrates the potential for lost or inaccessible funds to be recovered years after initial deployment, benefiting early participants.

Source: CoinDesk