HTX to restore services ‘within 24 hours’ after $30M hack.

HTX, formerly known as Huobi Global, has announced plans to restore services "within 24 hours" following a $30 million hack on November 22. The exchange is taking swift action to address the security breach and resume normal operations.

HTX to restore services ‘within 24 hours’ after $30M hack.


 Huobi Global formerly HTX to restore deposits and withdrawals within 24 hours after a $30 million exploit on November 22. Although the initial report estimated the hack at $13.6 million, the value has since increased.

In an official statement, the exchange assured its users that it would fully compensate for the losses caused by the attack and guarantee the safety of user funds. It emphasized that the amount lost in this incident represents a small fraction of the platform’s total funds and that normal operations were unaffected.

The day before the hack, HTX experienced a $30 million breach in its exchange hot wallets, accompanied by an orchestrated $86.6 million attack on the HTX Eco (HECO) Chain bridge, which involved HTX, Tron, and BitTorrent. These entities are all linked to Chinese blockchain entrepreneur Justin Sun.

HTX acknowledged its responsibility to protect user assets and ensure information security. It vowed to take all necessary measures to prevent such incidents from occurring in the future. Notably, HTX and other Sun-linked entities have suffered four hacks over the past two months, with the largest being the $100 million Poloniex exchange exploit on November 10, likely caused by a compromised private key.

Sun, the Chinese entrepreneur, has stated that they are currently investigating the reasons behind the recent hacker attacks. Once the investigation is complete and the cause is identified, HTX will resume its services. As of now, a $10 million white hat bounty remains open for the return of stolen funds from the $100 million Poloniex exploit.

These consecutive hacks raise concerns within the crypto community. Some eyebrows were already raised when Huobi Global rebranded as HTX. The incidents have highlighted the urgent need for increased security measures and better protection of user assets.

In conclusion, HTX is working diligently to restore its services promptly and address the aftermath of the $30 million exploit. The exchange aims to compensate users for their losses, ensure the safety of their funds, and implement measures to prevent future attacks. The investigation into these incidents continues, and the crypto community eagerly awaits the outcome.

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