- HTX crypto exchange recently suffered a $13.6M hack but plans to resume full services within 24 hours
- Hack was part of a larger $86.6M attack against HTX and related entities, targeting hot wallets and stealing TRX and BTT
- HTX will compensate users fully for losses and says it is investigating causes to prevent future hacks, but repeated exploits of HTX-linked platforms raise security concerns
The crypto exchange HTX, formerly known as Huobi Global, recently suffered a $13.6 million hack but has now announced plans to resume full services within 24 hours. This hack was part of a larger $86.6 million attack against HTX and related entities.
Details of the Hack
HTX’s hot wallets were hacked on November 22nd, resulting in the theft of $13.6 million. This occurred as part of a coordinated attack that also targeted the HTX Eco HECO Chain bridge and involved the cryptocurrencies TRX and BTT. All three affected entities are linked to blockchain entrepreneur Justin Sun.
HTX’s Response
In an official announcement, HTX stated they will compensate users fully for any losses from the hack and guaranteed the safety of user funds. They noted the amount lost was a small fraction of their total holdings. HTX said protecting user assets is their highest priority and they will take measures to prevent future incidents.
Recent Hacks of HTX-Related Entities
Over the past two months, HTX and other Justin Sun-related entities have suffered four total hacks. The largest was a $100 million exploit of Poloniex on November 10th. Sun has said they are investigating the specific causes and will resume services after identifying the root of the issue.
HTX has now handled this latest hack and plans to be up and running fully within 24 hours. However, the repeated exploits of HTX-linked platforms over the past two months raise concerns about security policies and will likely lead to increased scrutiny going forward.
