Crypto Exchange HTX, Formerly Huobi Global, to Compensate Losses
Crypto exchange HTX, formerly known as Huobi Global, is set to resume deposits and withdrawals within 24 hours following a $13.6 million exploit on November 22. The exchange assures users of full compensation for losses and a 100% guarantee of fund safety. The incident is part of an $86.6 million attack against the HTX Eco (HECO) Chain bridge, involving HTX, Tron (TRX), and BitTorrent (BTT).
Huobi HTX’s Swift Response and Compensation Promise
Huobi HTX swiftly responded to the exploit, ensuring that the amount lost in the attack is a small fraction of the platform’s total funds. The exchange commits to fully compensating affected users and reinforcing security measures to prevent future incidents. The normal operations of HTX were reportedly unaffected.
HTX and Justin Sun-Linked Entities Face Fourth Hack in Two Months
The $13.6 million hack on HTX marks the fourth security breach in two months for Huobi and entities linked to Chinese entrepreneur Justin Sun. The incidents, including the $100 million Poloniex exploit on November 10, have prompted investigations into the causes, and measures to enhance security are underway.