White Hat Researcher Unlocks ICO Contract Stuck for Nearly 9 Years, Worth Around $2 Million ETH
On June 1st, security researcher Florent successfully unlocked roughly 1,003 ETH trapped in the 2016 HongCoin (HONG) ICO contract after nearly nine years — funds currently valued at around $2 million — by addressing an early Solidity code flaw.
The bug stemmed from a global counter in the contract that had restricted the refund function, preventing most original investors from retrieving their ETH. Working closely with the HongCoin team, Florent leveraged the contract’s minting function to enable 48 original investors to submit refund requests. The process took approximately one week, and all actions were signed off on by the team, with no unilateral hacking involved, per Florent.
To date, two of the eligible investors have collectively withdrawn 96.5 ETH, and voluntarily sent a white hat bounty to Florent. In a statement, Florent noted that old contracts lacking ownership takeover vulnerabilities are typically not lucrative for malicious hackers, with only original investors standin
4 minutes ago
Sui Foundation Releases Mainnet Three Downtime Incident Analysis Report: v1.72 Upgrade Introduces Two Separate Vulnerabilities
June 1 – The Sui Foundation has released an incident analysis report covering the recent three mainnet outages, linking the network disruptions to two separate vulnerabilities introduced in its v1.72 software upgrade. The outages took place last Thursday and Friday: the first stretched roughly six and a half hours, with two additional interruptions hitting Friday morning and afternoon respectively.
The initial two outages traced back to a flaw in the new "Address Balance" feature added in v1.72, which broke the transaction fee deduction logic. When users canceled transactions due to insufficient funds, the network still charged those fees anyway, resulting in negative balances that caused validation node reconciliation processes to crash.
The foundation acknowledges the emergency patch deployed on Thursday carried a known risk of triggering another outage—but the team prioritized restoring on-chain services quickly, leading to the second Friday morning disruption. The third outage wa
4 minutes ago
U.S. Stock Futures Rise as Software and Cloud Computing Service Providers Sector Gains, IBM Up Over 11%, ARM Surges Over 220% Year-to-Date
On June 1, Bitget market data shows that the U.S. stock software sector maintained strong momentum in the after-hours trading session. ServiceNow (NOW.US) surged more than 10%, while Microsoft (MSFT.US), Palantir (PLTR.US), and Salesforce (CRM.US) each gained over 3%.
The cloud computing sector also posted notable advances: NEBIUS (NBIS.US) and Oracle (ORCL.US) climbed more than 5% apiece. Arm Holdings (ARM.US) extended its rally by over 8%, pushing its year-to-date increase to more than 220%. IBM Corp (IBM.US) added another 11%+ after surging nearly 13% in the previous trading day. Virgin Galactic (SPCE.US) rallied over 13% again, notching a second consecutive session of double-digit gains.
4 minutes ago
This Week's Macro Outlook: US-Iran Negotiations Enter Key Window, Non-Farm Payrolls and Unemployment Rate Data Incoming
June 1. Trump stated that a ceasefire deal with Iran is nearing completion, demanding Tehran abandon its nuclear weapons capability and open the Strait of Hormuz. However, Iran denied having approved the final agreement text, emphasizing key differences remain on related terms. U.S. Secretary of Defense Hedges warned that if negotiations collapse, Washington is prepared to resume military action against Iran. Should the U.S. and Iran finalize a ceasefire extension or reach a preliminary deal next week, risk assets could continue to rally, while oil prices and safe-haven assets may face new directional choices.
On the macro front, key U.S. economic data for May will be released this week, including seasonally adjusted nonfarm payrolls and the unemployment rate. Meanwhile, several Federal Reserve officials will deliver speeches, and markets will further assess the balance between U.S. economic slowdown and inflation pressures, plus shifts in the central bank’s future interest rate path.
4 minutes ago
Japanese and South Korean Stock Markets Hit New All-Time Highs, with South Korea's KOSPI Index Surging 1% in Early Trading
June 1 — Per Bitget market data, both Japan and South Korea’s stock markets opened higher. South Korea’s KOSPI index extended early gains to 1%, while Japan’s Nikkei 225 is currently trading 0.36% higher, with both benchmarks notching fresh record highs.
4 minutes ago