HTX Exchange Overcomes $30M Hack
Digital asset exchange HTX has resumed deposits and withdrawal services for major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and others after it was drained for $30 million. The resumption of these services is a significant step forward following the recent security breach.
Restoration of ERC20 Services
In an announcement on Nov 26, HTX revealed that services have been restored for virtual assets via the ERC20 blockchain. The exchange listed several cryptocurrencies, including HOT, LINK, MANA, and others, as part of the initial restoration phase, with many more services expected to resume shortly.
Upcoming Community Airdrop
In light of the recent hack, HTX is planning an airdrop to boost community participation. The airdrop targets users who hold Rockets, with additional benefits for those holding top assets like HT, BTC, and ETH. This move is seen as an effort to rebuild trust within its user base.
Commitment to Security and Reserves
The exchange has emphasized its commitment to security, stating, “Since its founding, HTX has remained committed to a policy of 100% reserves.” This assurance comes as a response to concerns raised due to the hack, with HTX promising to cover all losses and strengthen its security measures.
Justin Sun’s Insight
Justin Sun, the exchange’s advisor, highlighted that major cryptocurrencies like BTC, ETH, TRX, and USDT are now fully functional on HTX. He indicated that the restoration of other currencies is in progress, with completion expected by next week.
A History of Security Breaches
HTX, formerly known as Houbi, faced a $30 million hack, marking another incident in a series of attacks on platforms associated with Justin Sun. Prior hacks include incidents at HECO bridge, Poloniex, and an earlier attack on HTX itself. Sun has assured full compensation for all losses and is taking measures to prevent future occurrences.
Poloniex Hack and Response
Earlier this month, Poloniex, another crypto exchange with ties to Sun, also suffered a $100 million hack. Following this event, Poloniex announced a white hat bounty of $10 million and plans for criminal proceedings, reinforcing the urgency for enhanced security measures in the crypto industry.
