HTX Cryptocurrency Exchange Experiences Significant Hack, Resulting in Loss of 5000 ETH

Cryptocurrency Exchange HTX Loses $7.9 Million in Hack

The cryptocurrency exchange HTX (formerly Huobi) has fallen victim to a hack, resulting in the loss of 5000 ETH worth approximately $7.9 million. This information was disclosed by Justin Sun, an advisor to the company. However, Sun reassured users that all losses had been fully covered and that the exchange had resolved any related issues.

Details of the Hack Revealed

Justin Sun took to X, previously known as Twitter, to reveal the details of the hack. He stated that HTX had suffered a loss of 5,000 ETH ($8 million USD) due to a hacker attack. Sun also shared the Ethereum addresses associated with the hacker behind the exploit.

Hacker Given Opportunity to Return Funds

In an attempt to recover the stolen funds, HTX is offering a white hat incentive of 5% of the stolen amount (approximately $400,000) to the hacker if they choose to return the funds. The exchange has even expressed willingness to hire the hacker as a security consultant. However, if the funds are not returned within seven days, HTX will involve law enforcement agencies and pursue legal action against the hacker.

Recent Rebranding

The hack comes shortly after HTX rebranded itself from Huobi. The exchange hopes this rebranding will boost user adoption and expand its presence in various jurisdictions. The new name represents “Huobi,” “Tron,” and “exchange.” The platform’s native token, HT, is currently trading at around $2.43.

Hot Take: HTX Exchange Hacked for $7.9 Million

The cryptocurrency exchange HTX (formerly Huobi) has experienced a security breach, resulting in the loss of $7.9 million worth of Ethereum. Justin Sun, an advisor to HTX, confirmed the hack and assured users that all losses had been covered. The exchange is offering a reward to the hacker for returning the funds, but if not returned within seven days, legal action will be pursued. This incident comes shortly after HTX’s rebranding and name change from Huobi. Despite this setback, HTX aims to continue expanding globally and staying ahead in the crypto market.