HTX Will Be Restoring Services After $30 Million Hack

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HTX, the crypto exchange previously known as Huobi Global, recently stated that it will be resuming deposits and withdrawals within 24 hours after it suffered a massive $30 million exploit on the 22nd of November. The exploit had been reported to be around $13.6 million during the time of the incident but has since then only increased in value.

In the official announcement, the exchange promised that it would be fully compensating for the losses that were caused as a result of this attack, and would 100% guarantee the safety of the user funds. In addition, it also wrote that the amount of funds that were lost by Huobi HTX this time would account for quite a small account of the total funds of the platform. The company noted that the normal operations of the exchange had not been affected by this incident.

HTX Has Been Suffering Massive Hacks

Just the day before, HTX had suffered a hack of $30 million to its exchange hot wallets alongside an orchestrated bunch of attacks resulting in a loss of $86.6 million from the Eco Chain bridge, which consists of HTX, Tron, and BitTorrent. All of the aforementioned entities are somewhat linked or de-facto controlled by Justin Sun, the blockchain entrepreneur from China. Just like the previous incidents, HTX has stated that the protection of user assets and information security will be the highest responsibility, and they would be taking all of the necessary measures to prevent such incidents from taking place again. 

Over the last couple of months, HTX and other entities linked with Sun have been hacked over four times. The largest was the Poloniex exchange worth $100 million on the 10th of November, caused by an apparent compromise in the private key.