Crypto Exchange HTX (Formerly Huobi) Loses $8 Million in Ether Hack
Crypto Exchange HTX, formerly known as Huobi, experienced a security breach resulting in the loss of $8 million worth of Ether.
The incident took place on a Sunday and was promptly identified. HTX advisor and Tron founder, Justin Sun, confirmed the hack and stated that the stolen amount was equivalent to two weeks' worth of revenue for the exchange.
However, Sun reassured the public that HTX has fully covered the losses, and users' funds remain secure.This incident underscores the ongoing challenges and risks associated with cybersecurity in the cryptocurrency industry.
" We are willing to offer 5% of the stolen amount (400,000 USD) as a white hat reward to encourage the hacker to return the stolen funds. If the hacker returns the funds, we will also hire them as a security white hat advisor for HTX."
"Sun also added: $8 million represents a relatively small sum in comparison to the $3 billion worth of assets held by our users. It also amounts to just two weeks' revenue for the HTX platform" Sun wrote on X.
Check the original tweet here.
In conclusion, Justin Sun and HTX are taking a proactive approach to address the security breach by offering a substantial white hat reward of 5% of the stolen amount, which amounts to $400,000 USD, in the hopes of encouraging the hacker to return the funds. This offer not only demonstrates their commitment to resolving the issue but also highlights their willingness to collaborate with security experts, even potentially hiring the hacker as a security white hat advisor. This incident underscores the ever-evolving landscape of cybersecurity in the cryptocurrency industry and the creative measures taken to safeguard digital assets and maintain trust within the community.