Seychelles-based Crypto Exchange HTX Loses $7.9 Million to Hackers
Seychelles-based cryptocurrency exchange HTX (formerly Huobi) has experienced a security breach, resulting in the loss of $7.9 million worth of Ethereum (ETH). According to blockchain security firm Peckshield, approximately 4999 ETH was transferred out of Huobi’s wallet on Sunday at around 10:00 am UTC.
Tron founder and Huobi advisor Justin Sun confirmed the incident, stating that it was indeed a hack. He shared the hacker’s addresses on Twitter.
HTX Takes Action and Seeks Return of Funds
HTX has taken swift action to address the situation. The exchange has identified the culprit and is demanding the return of the stolen funds. In a blockchain-based message, HTX provided the hacker with an address to return the funds and offered a 5% white hat bonus as an incentive. The hacker has been given one week to comply, after which law enforcement will be involved if necessary.
Losses Covered by HTX
Justin Sun assured users that all losses have been fully covered by HTX. He also mentioned that the exchange holds $3 billion worth of assets for clients and that the amount lost to the hacker is equivalent to just two weeks of revenue for HTX.
Hot Take: HTX Takes Swift Action Against Hackers
The security breach experienced by HTX resulted in a significant loss of funds. However, the exchange’s quick response and efforts to recover the stolen assets demonstrate their commitment to protecting user funds. By identifying the hacker and demanding the return of funds, HTX shows its determination to hold criminals accountable for their actions in the crypto space.
The post HTX Loses $7.9 Million To Hackers, Justin Sun Responds appeared first on CryptoPotato.
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