BlockBeats News, June 1st, Security researcher named Florent discovered and helped unlock approximately 1003 ETH trapped in the 2016 HongCoin (The HONG) ICO contract for nearly 9 years, currently worth around $2 million. The contract had a early Solidity code bug that restricted the refund function due to a global counter, preventing the majority of investors' ETH from being refunded. Through collaboration with the HongCoin team, Florent successfully enabled 48 original investors to apply for a refund using the minting function in the contract. The entire process took about a week and was fully signed by the team themselves, not through unilateral hacking.

Currently, two investors have retrieved a total of 96.5 ETH and voluntarily paid a "white hat bounty" to Florent. Florent stated that such old contracts, lacking a ownership takeover vulnerability, are usually unprofitable for hackers, with only the original investors benefiting. He usually scans old contracts holding a large amount of ETH, and this retrieval demonstrates the positive value of "white hats" in protecting the crypto ecosystem.