Cryptocurrency exchange HTX, formerly known as Huobi, recently fell victim to a cyberattack, losing a substantial $7.9 million worth of Ethereum (ETH) to hackers. The incident has raised concerns within the crypto community, but swift action has been taken to address the breach.
Blockchain security firm Peckshield was the first to notice the unusual activity on Huobi’s platform. On a fateful Sunday at approximately 10:00 am UTC, 4,999 ETH, equivalent to $7,866,926.30, was siphoned from the exchange’s wallet. The breach sent shockwaves through the cryptocurrency world, highlighting the ever-present threat of cyberattacks on digital asset platforms.
Identifying the Culprit
HTX acted swiftly to identify the hackers responsible for the theft. The exchange wasted no time in tracking down the culprits and has already taken legal action against them. This demonstrates the commitment of HTX to safeguarding its users’ assets and maintaining the integrity of its platform.
Renowned Tron founder and Huobi advisor, Justin Sun, confirmed the cyberattack, providing information about the hacker’s addresses. Importantly, Sun reassured the crypto community that all losses incurred due to the hack have been fully covered by the exchange. He added that HTX holds a staggering $3 billion worth of assets for its clients, putting the $7.9 million loss into perspective. According to Sun, this setback represents just two weeks of revenue for the exchange, underlining its financial resilience.
HTX’s Response and Ultimatum
In a blockchain-based message, HTX communicated directly with the hacker, urging them to return the stolen funds within a week. The exchange even offered a 5% “white hat bonus” as an incentive for the hacker to comply. However, it was made abundantly clear that if the funds were not returned promptly, law enforcement would be involved.
This incident serves as a stark reminder of the persistent risks associated with the cryptocurrency industry. It also underscores the importance of robust security measures and proactive responses by exchanges to protect both their assets and those of their users. HTX’s swift actions and commitment to resolving the situation are reassuring for its clients and the broader crypto community, but it remains to be seen whether the hacker will comply with the ultimatum or face legal consequences.