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06/01/2026

Whitehat Unlocks $2M From 2016 Ethereum ICO Contract

What happened: Security researcher 0xflorent discovered an integer-overflow flaw in the HongCoin token sale contract, enabling the recovery of $2 million locked for nine years.

Whitehat Unlocks $2M From 2016 Ethereum ICO Contract

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

Why it matters: The incident highlights ongoing vulnerabilities in legacy smart contracts and the value of whitehat intervention. With millions still locked in old contracts, such recoveries could become more common as the ecosystem matures and security expertise deepens.

Source: CoinDesk