Binance CEO Offers Assistance in Tracking Stolen Funds
The HTX crypto exchange was recently exploited, resulting in a loss of almost $8 million. In response to the incident, Binance CEO Changpeng Zhao (CZ) has offered to help track the stolen funds. The exchange has taken steps to minimize the impact of the exploit on its network by offering a ‘white-hat bonus’ of 5% of the total stolen amount, valued at around $400,000, as a reward for the return of the funds.
Cyvers Highlights Attack on HTX Crypto Exchange
On September 24, blockchain analytics firm Cyvers brought attention to the attack on the HTX crypto exchange. The hacker drained approximately 5,000 Ether (ETH) from one of the exchange’s hot wallets. Tron founder Justin Sun disclosed the exploit and assured customers that the exchange had already covered the lost funds. Binance CEO CZ responded to Sun’s post on X platform, promising assistance in recovering the stolen funds. CZ also playfully mentioned the similarity between Sun’s newly rebranded HTX and FTX crypto exchange.
HTX Offers White-Hat Bounty to Hacker
In an effort to recover some of the stolen funds, HTX has offered a white-hat bounty of 5% of the stolen amount, which is nearly $400,000. The exchange has also proposed immunity for the hacker if they comply by returning 95% of the stolen funds within seven days. Justin Sun emphasized that $8 million is a small sum compared to their users’ $3 billion worth of assets and represents only two weeks’ revenue for HTX. He also mentioned conducting live streams in English and Chinese to discuss HTX’s security measures.
Hot Take: HTX Takes Swift Action to Address Exploit
Following the recent exploit on the HTX crypto exchange, the platform has taken immediate action to recover the stolen funds and enhance security measures. Binance CEO CZ has offered assistance in tracking the stolen funds, highlighting the collaborative nature of the crypto community. HTX’s white-hat bounty and immunity proposal demonstrate their commitment to resolving the issue and preventing future exploits. With the support of industry leaders like CZ and Justin Sun, HTX is taking proactive steps to protect its users’ assets and maintain trust in the exchange.
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