Huobi Recovers $8 Million in Stolen Ethereum After Contacting Hacker and Offering Bounty

Huobi Global cryptocurrency exchange recovered $8 million in stolen Ethereum after contacting the hacker who stole the funds in September.

The hacker returned all of the stolen funds after Huobi offered a bounty of 250 ETH (around $295,000).

The funds were originally stolen from one of Huobi's hot wallets that was compromised back in September.

Huobi initially offered a 5% bounty of the stolen ETH to encourage the hacker to return the funds.

Cryptocurrency exchanges sometimes negotiate with hackers to recover stolen funds rather than involve law enforcement.