Developer Florent has helped recover approximately 1,003 ETH, valued at around $2 million, that had been locked for nine years in HongCoin's 2016 ICO contract. Due to a vulnerability in the contract, the refund function had previously been inoperable.
Florent collaborated with the HongCoin team, utilizing the team's multi-signature admin function to reset holder balances, thereby bypassing the refund limitation caused by a lack of overflow protection. Currently, 48 original investors can claim these unfrozen funds, with two investors having already claimed a total of 96.5 ETH and voluntarily paying a white hat bounty to Florent. (The Block)
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Developers help recover 1,003 ETH locked in a 2016 ICO contract
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