Bitcoin Deposits and Withdrawals Resume on HTX Exchange After $30 Million Hack
The Justin Sun-linked cryptocurrency exchange HTX, formerly known as Huobi, has announced the resumption of Bitcoin (BTC) deposits and withdrawals. This comes after the exchange suffered a $30 million exploit on November 22.
Multiple Currencies Now Available for Deposits and Withdrawals
HTX confirmed in a blog post that deposit and withdrawal functionality is now back for various cryptocurrencies, including BTC, Ether (ETH), Tron (TRX), and Tether (USDT).
Remaining Cryptocurrencies to be Restored Gradually
Justin Sun stated on Twitter that HTX plans to gradually bring back functionality for the remaining cryptocurrencies. He expects this process to be completed “by next week.”
A Series of Hacks on Sun-Linked Crypto Platforms
The $30 million hack on HTX’s exchange hot wallets was one of four hacks in just a few months on crypto platforms linked to or controlled by Justin Sun. The HTX Eco Chain bridge, which includes HTX, Tron, and BitTorrent, was also attacked for $86.6 million on the same day.
Other Hacks Involving Sun-Owned Platforms
In addition to the HTX hack, the Sun-owned crypto exchange Poloniex experienced a $100 million attack on November 10. It is suspected that a compromised private key led to this security breach. Another attack occurred on September 24 when an attacker stole nearly $8 million in crypto from Huobi’s hot wallet shortly after its rebranding to HTX.
Hot Take: Security Breaches Highlight the Importance of Robust Measures
The recent series of hacks on Sun-linked crypto platforms emphasizes the need for robust security measures in the cryptocurrency industry. With millions of dollars at stake, it is crucial for exchanges to prioritize the protection of user funds and implement strong security protocols. These incidents serve as a reminder for crypto investors to exercise caution and choose reputable exchanges with stringent security measures in place.
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