HTX, formerly known as Huobi, has fallen victim to a security breach resulting in the loss of 500 ether (ETH), valued at approximately $8 million. This incident, as reported by HTX advisor and Tron founder Justin Sun, transpired on Sunday and was promptly detected.
Sun assured the crypto community via the social media platform X (formerly Twitter) that HTX has fully covered the incurred losses, assuring the safety of all funds.
The compromised wallet appears to be one of HTX’s hot wallets, which has received approximately $500 million in deposits from Binance since its inception in March, according to data from Arkham.
Justin Sun addressed the hack, stating, “$8 million represents a relatively small amount compared to the $3 billion in assets held by our users. It also equates to just two weeks’ revenue for the HTX platform. Consequently, all funds remain secure, and normal trading operations have continued without disruption. We promptly addressed and resolved all issues, swiftly restoring the platform to its regular state.”
Sun also expressed HTX’s willingness to offer the hacker a $400,000 bug bounty in exchange for the return of the stolen funds. He extended the offer by proposing that HTX could hire the hacker as a security white hat advisor.
