HTX Deposits And Withdrawals About To Reopen With Airdrop After $30 Million Hack

Key Points:

• HTX deposits and withdrawals will be reopened after the exchange faced a $30 million loss in a November 22 security breach.
• Justin Sun assures users, vowing to cover losses and announcing an airdrop for affected users.
• This incident is the fourth in two months for Sun-related businesses, with a $100 million loss in the recent Poloniex attack, offering a $10

On November 22, 2023, HTX, formerly Huobi Global, encountered a significant security breach, resulting in a staggering loss initially estimated at $13.6 million, later revised to approximately $30 million.

HTX Deposits And Withdrawals Will Reopen After $30 Million Security Breach

Justin Sun, the prominent figure associated with HTX and Poloniex, reassured users about the safety of their assets, expressed regret for the inconvenience caused and pled to cover all losses. Notably, all user assets were declared secure despite the breach.

In response to the incident, HTX deposits and withdrawals are set to reopen, accompanied by an upcoming airdrop as a gesture of appreciation for affected users.

Fourth Cybersecurity Incident in Two Months Raises Alarms

Sun urges users to stay vigilant by monitoring platform announcements. This breach marked the fourth cybersecurity incident affecting Sun-related businesses in the past two months, raising concerns about the effectiveness of their security protocols.

Particularly notable was the attack on Poloniex on November 10, attributed to a meaningful private key breach. The breach results in a substantial $100 million loss, prompting an ongoing investigation to determine the root cause. To encourage the return of the stolen funds, a $10 million white-hat reward has been announced. HTX deposits and withdrawals are reopened together with Poloniex.

Despite these challenges, HTX affirmed that the overall financial health of the platform remains stable and normal operations are unaffected.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.