Dev helps rescue $2 million locked in 2016 ICO contract for nine years with whitehat exploit
The developer told The Block that two of 48 eligible investors have already claimed 96.5 ETH that was unfrozen, worth nearly $200,000 at current prices....
Key takeaways
- 1Developer recovered $2 million in ETH locked in a 2016 ICO contract through a whitehat exploit after nine years.
- 2Two of 48 eligible investors claimed 96.5 ETH (~$200,000) from the unfrozen funds.
- 346 remaining investors can now access their previously inaccessible cryptocurrency holdings from the old contract.
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Why it matters
This recovery highlights risks of early smart contracts and demonstrates how technical expertise can unlock lost crypto assets. For Indian retail investors holding old ICO tokens, it shows potential pathways to recover stranded funds from problematic contracts.
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