HTX Crypto Exchange Loses $7.9 Million in ETH to Hacker
Seychelles-based crypto exchange HTX, formerly known as Huobi, has experienced a security breach resulting in the loss of $7.9 million worth of Ethereum (ETH). Justin Sun, the founder of Tron and an advisor to HTX, confirmed the hack on Twitter and stated that the platform has covered the losses and resolved all related issues. However, HTX has not responded to requests for comment from Decrypt.
Hacker Attack Detected by Blockchain Investigators
Blockchain investigators like PeckShield identified a suspicious outbound transaction of 4,999 ETH from HTX before the hack was publicly disclosed. The hacker’s addresses have been identified on Etherscan.
Losses Represent a Small Sum
According to Justin Sun, the stolen funds amount to a relatively small sum compared to HTX’s total assets, which currently amount to $3 billion. Sun assured users that all their assets are secure and emphasized that the losses only represent two weeks’ revenue for the platform.
HTX Threatens Legal Action
In a message sent over the blockchain, HTX claimed to have unmasked the hacker’s true identity and threatened to involve law enforcement if the stolen funds were not returned within one week. They also offered a white-hat reward of $400,000 and proposed hiring the hacker as a security advisor if they returned the funds. Binance CEO Changpeng Zhao pledged assistance from Binance’s security team in tracking the hacker’s funds.
Hot Take: Security Breach Highlights Ongoing Risks in Crypto Industry
The recent security breach at HTX serves as a reminder of the ongoing risks faced by crypto exchanges and users. Despite the relatively small sum of funds lost in this incident, it is crucial for exchanges to prioritize robust security measures to protect user assets. The involvement of blockchain investigators and the pursuit of legal action against hackers demonstrate the industry’s commitment to holding cybercriminals accountable. However, it is important for users to remain vigilant and take necessary precautions to safeguard their crypto holdings.
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