HTX Crypto Exchange Loses $7.9 Million in ETH to Hacker

HTX, the Seychelles-based crypto exchange, loses $7.9 million worth of ETH to a hacker attack. The exchange offers a 5% bug bounty and a job as a security white-hat advisor to the hacker if the funds are returned within one week.

Posted 8 months ago in Security

A hacker typing on a computer keyboard HTX, the Seychelles-based crypto exchange formerly known as Huobi, has lost $7.9 million worth of ETH to a hacker less than one month after the company’s rebranding. Tron founder and HTX advisor Justin Sun confirmed the loss on Twitter, stating that HTX had suffered a loss of 5,000 ETH due to a hacker attack. The exchange has fully covered the losses and resolved all related issues. Blockchain investigators were able to identify a suspicious outbound ETH transaction from the exchange before the attack took place. The hacker’s addresses have been identified, and HTX is vying to get its money back. In an effort to recover the stolen funds, HTX has offered a 5% bug bounty to the hacker, along with a job as a security white-hat advisor for the exchange, if the funds are returned within one week. Binance CEO Changpeng Zhao has also pledged assistance from Binance’s security team in tracking the hacker’s funds. While the funds lost represent a relatively small sum compared to the total assets held by users on the HTX platform, the exchange is taking the incident seriously and is willing to involve law enforcement if necessary. This is not the first incident of its kind in the crypto industry, as other exchanges have also fallen prey to hackers. CoinEX recently proposed a bug bounty after losing an estimated $54 million in assets to hackers linked to North Korea.

Last updated 9/25/2023, 10:16:39 PM


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