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Hacker Returns Stolen Funds to HTX Global After Breach
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According to blockchain analytics insights provider Lookonchain, the hacker responsible for breaching HTX Global, previously known as Huobi, has returned all of the assets that were stolen. The hacker refunded a total of 4,999 Ether (ETH), valued at $8.2 million, back to HTX Global.
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The Concerning HTX Global Breach
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Last Monday, HTX Global, a cryptocurrency exchange, experienced a security breach where an unidentified hacker stole the aforementioned amount in Ethereum. TRON founder and HTX advisor Justin Sun quickly assured the public that the losses had been covered and that all issues related to the hack had been resolved. Sun stated that the stolen funds were only a small fraction of HTX Global’s total assets, which amount to $3 billion.
In an effort to encourage the return of the stolen funds, Sun offered a 5% Whitehat reward worth $400,000 to the hacker. He also extended an offer for the hacker to become a security Whitehat advisor if they voluntarily returned the funds promptly. Sun revealed that HTX’s security team detected the breach on September 24th at 6 p.m., although onchain security firm Cyvers Alerts had previously noticed suspicious transactions linked to Mixin Network.
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Justin Sun Addresses Insolvency Rumors
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The HTX hack occurred shortly after rumors of the exchange’s insolvency began circulating. Prominent developer and Dogecoin advocate Mishaboar even advised DOGE holders to withdraw their assets from HTX due to concerns about the exchange’s Proof-of-Reserve claims. Sun urged users to ignore these rumors and attempted to alleviate any fears by assuring customers that their funds were safe.
With news of the full refund, customers are likely to feel more at ease about the exchange despite the controversies surrounding it.
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Hot Take: A Positive Turn of Events for HTX Global
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The return of the stolen funds by the hacker is a positive development for HTX Global. The swift response from TRON founder Justin Sun and his team in addressing the breach and offering rewards demonstrates their commitment to protecting customer assets. This incident also highlights the importance of robust security measures in the cryptocurrency industry.
While concerns about HTX Global’s insolvency and Proof-of-Reserve claims still linger, the refund of the stolen funds should help restore confidence among users. It remains crucial for investors to conduct thorough market research and exercise caution when investing in cryptocurrencies.
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