Developer Successfully Rescues $2 Million in ETH from Nine-Year-Old ICO Contract
Developer Successfully Rescues $2 Million in ETH from Nine-Year-Old ICO Contract
A dedicated developer executed a whitehat exploit to unfroze approximately $2 million worth of cryptocurrency, primarily ETH, which had been locked in a 2016 ICO smart contract for nearly a decade. Two of the 48 eligible investors have already claimed 96.5 ETH, valued at close to $200,000 at current market prices, marking a significant recovery of long-lost funds.
Dev Helps Rescue $2 Million Locked in 2016 ICO Contract for Nine Years
A developer has successfully intervened to rescue a substantial amount of cryptocurrency, estimated at $2 million, that had been inaccessible within a 2016 Initial Coin Offering (ICO) contract. The Block reported details of this whitehat exploit, confirming that the intervention has allowed two of 48 eligible investors to reclaim their funds. Specifically, 96.5 ETH, worth nearly $200,000 at prevailing market prices, has already been unfrozen and claimed, offering a glimmer of hope for other long-term investors.