White hat hacker helps unlock 1003 ETH of 2016 HongCoin IC0 contract

According to The Block, developer Florent used white hat hacking techniques to help unlock approximately 1003 ETH (worth around $2 million) locked in the 2016 HongCoin IC0 contract. Due to coding errors, the contract was unable to be refunded as planned. Florent discovered that calling the administrator function and entering a specific value can reset the holder's balance and release funds. After verification by the testing network, the HongCoin team completed the unlocking transaction through multi signature address signing.