White Hat Hacker Recovers $2M in Ethereum from Failed ICO

A significant milestone has been achieved in the world of cryptocurrency with the recovery of $2 million in Ethereum from a failed 2016 ICO, Hong Coin. The funds were trapped for nearly 10 years due to an integer overflow bug in the smart contract that prevented automatic refunds to investors.

The white hat hacker, who goes by the pseudonym 0xflorent, discovered the vulnerability and worked with the project's creators to unlock the refund mechanism. This allowed 48 investors to claim their funds, which were supposed to be returned if the project did not meet its fundraising target.