HTX Resumes Deposits and Withdrawals After $13.6 Million Attack
Crypto exchange HTX, formerly known as Huobi Global, has announced that it has resolved a recent security incident and will resume deposits and withdrawals within 24 hours. The attack resulted in a loss of $13.6 million on November 22.
In a statement on its official website, HTX assured users that it will fully compensate for the losses incurred and ensure the safety of user funds. The platform emphasized that the funds lost in the attack are only a small portion of its total funds and that its normal operation remains unaffected.
HTX aims to mitigate the impact of the security breach by offering comprehensive compensation for any user losses. It also plans to swiftly restore normal services, with deposit and withdrawal services expected to resume within 24 hours.
Security Woes Continue for HTX
HTX experienced a significant security incident on November 22, resulting in an estimated loss of $13.6 million. This incident is part of a larger exploit involving HTX, Tron, and BitTorrent, all linked to Chinese entrepreneur Justin Sun.
A blockchain security firm revealed that the losses originated from three compromised hot wallets. The stolen funds were converted into Ether (ETH) and disbursed to various Ethereum addresses. Several coins and tokens were affected, including ETH, USDT, USDC, and LINK.
This incident marks the fourth hack suffered by HTX and Sun-linked entities in the past two months. Despite previous assurances of user asset safety, these security breaches raise concerns about the overall safety of these platforms.
Security Woes Persist for HTX and Sun-Linked Entities
HTX and entities connected to Justin Sun have fallen victim to another security breach, marking the fourth hack in two months. The most significant incident was a $100 million exploit targeting Poloniex on November 10.
In response to suspicious outflows, the Poloniex team disabled the affected wallet. Justin Sun pledged full reimbursement to affected users and expressed intentions to collaborate with other exchanges to recover the lost funds.
These incidents raise questions about the safety and resilience of platforms linked to Justin Sun, as they have experienced multiple security breaches in a short period of time.
Hot Take: HTX Takes Steps to Address Security Breach
HTX (formerly Huobi Global) has taken swift action to resolve a recent security incident resulting in a loss of $13.6 million. The exchange has assured users that their funds are safe and that they will be fully compensated for any losses incurred.
This incident highlights ongoing security concerns in the cryptocurrency industry, particularly for platforms linked to Chinese entrepreneur Justin Sun. It is crucial for users to remain vigilant and take necessary precautions when using crypto exchanges.
By
By
By
By
By