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HTX Global Faces Security Breach Resulting in $8 Million Ethereum Loss

An electronic attack on the global HTX platform, formerly known as Huobi, has resulted in approximately $8 million in Ethereum (ETH) losses due to a hacker attack. Details of the incident emerged through a detailed thread on the X platform (formerly Twitter) by Justin Sun.

The global HTX platform, formerly known as Huobi, fell victim to a security breach on Monday, leading to losses of approximately $8 million in Ethereum (ETH) due to a hacker attack. The incident was revealed through a comprehensive thread on the X platform (formerly Twitter) by Justin Sun.

According to Justin Sun, “HTX has suffered a loss of 5,000 ETH ($8 million) due to a hacker attack. HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues. All user assets are SAFU, and the platform is operating completely normally.” Sun shared the hacker’s addresses.

Despite the substantial sum involved, Sun emphasized that this loss represents a relatively small portion of the platform’s total assets, which amount to a staggering $3 billion. He added, “It also amounts to just two weeks’ revenue for the HTX platform.”

According to Sun, the breach was swiftly detected by HTX’s security team on September 24, 2023, at 6 p.m. SGT, and immediate action was taken to prevent any further losses. Cyvers Alerts, an on-chain security firm, previously identified suspicious transactions linked to the Mixin network, which recently experienced a substantial loss of $200 million. These transactions were traced back to HTX and Binance, but attempts to contact HTX received no response.

HTX announced a white-hat reward of 5% of the stolen amount, equivalent to $400,000, as an incentive for the hacker to return the stolen funds. Additionally, they offered to hire the hacker as a security white-hat advisor if the funds were returned voluntarily.

However, Sun made it clear that if the funds were not returned within seven days, they would cooperate with law enforcement authorities to pursue legal action against the hacker.

H.E. Justin Sun is the Founder of TRON and advisor to HTX. HTX Global rebranded on September 13, 2023, with a mission to expand its global roadmap by venturing into new markets while focusing on growth, profitability, and partnerships with various blockchain projects and stablecoin initiatives. Notably, the latest incident has been its largest security breach since rebranding.

SourceCoin Gape

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