HTX Retrieves Almost All Hacked ETH Following Hacker Identification

White Hat Gesture by HTX

In the crypto realm, a “white hat” denotes ethical hackers who pinpoint system weaknesses without capitalizing on them. The perpetrator’s choice to hand back the lion’s share of the filched funds aligns with this “white hat” ideology and was praised by HTX.

HTX’s firm opposition to hacking attempts accentuates its dedication to shielding user funds.

In a separate episode, Web3 platform Galxe endured a security lapse. Users declared they couldn’t access their funds or wallets, and the Galxe webpage went dark. The compromise was traced back to a DNS account breach via the domain marketplace, Dynadot.

Such events underscore the continuous risks facing digital asset platforms and the pressing demand for heightened security.

Elsewhere, the Avalanche-linked social media tool Stars Arena has secured funds to bounce back from a hack that led to nearly $3 million in losses. While the origin of the financial backing remains under wraps, the platform assures a comprehensive audit before reactivating its smart contract.

Measures Against Cryptocurrency Offenses

On the regulatory spectrum, the U.K. is actively countering crypto-connected financial misconduct. The Economic Crime and Corporate Transparency Bill has progressed in the House of Lords, largely targeting illicit crypto actions.

Introduced in September 2022, the legislation is in its concluding stages of ratification.

The bill not only combats crypto financial infractions but also sheds light on corporate clarity and overseas enterprise enrollments. A forthcoming royal consent symbolizes the legislation’s final ascent to law, reflecting the sovereign’s official approval.

In a similar vein, South Korea unveiled the Joint Investigation Centre for Crypto Crimes. Assembled with nearly 30 experts from diverse fields like legal, finance, tax, and customs, the team aspires to bridge the regulatory voids related to digital assets.

Given the inadequacy of legal safeguards in the crypto realm, investors remain vulnerable, leading the Prosecutors’ Office to underline the squad’s vital role until extensive rules and supervisory frameworks are in place.