Discover the crypto universe in depth

HTX Crypto Exchange Hit by Major Security Breach

The cryptocurrency exchange platform HTX, belonging to Huobi Global, fell victim to a major security breach, as reported by the blockchain analysis platform Cyvers. The attacker managed to divert $7.9 million in cryptocurrencies. In a bold move, a hot wallet associated with Huobi directly addressed the culprit. The message, written in Chinese, indicated that the platform knew the identity of the attacker. In an act of goodwill or perhaps a strategic maneuver, the exchange offered a ‘white-hat bonus.’ This offer meant that the attacker could keep 5% of the stolen funds if they returned the remaining 95%.

An Ultimatum for the HTX Hacker

This was not an ordinary communication between an exchange platform and an attacker. A supposed wallet from Huobi made a transaction, sending 4,999 Ether, equivalent to the reported $7.9 million, to an unknown address with no transaction history. The next day, another Huobi wallet sent a message to the attacker, which, when translated from Chinese, presented an ultimatum: return the funds within a week, before October 2, 2023, or face legal consequences.

The Scale of Crypto Hacks and CZ’s Reaction

This incident is among several cryptocurrency thefts that have shaken the world of digital currencies in 2023. The Lazarus group, affiliated with North Korea, has been at the forefront, accumulating a total of $40 million in Bitcoin through various attacks this year. However, in this case, the consequences seem to be negligible for platform users. Huobi Global investor Justin Sun reassured users after the attack, stating that their funds were secure and that the platform had resumed regular operations. He emphasized that all losses due to the hack had been duly covered and that all related issues had been effectively resolved.

On the other hand, Binance CEO CZ took the opportunity to mock the new HTX branding, recalling the bankrupt FTX exchange.

Related Posts