Recently, cryptocurrency exchange HTX (formerly Huobi) fell victim to a hacker who made away with around $7.9 million worth of Ether (ETH). HTX’s advisor, Justin Sun, announced that they had taken immediate measures to cover the losses and ensure the safety of user funds.
HTX’s monitoring system had detected the hack as soon as it occurred, allowing the exchange to secure all user assets and address the issue quickly. Normal trading operations were able to be restored.
To recover the stolen funds, HTX offered the hacker a 5% “white hat bonus,” amounting to nearly $400,000, to return the pilfered assets. The offer was presented with a seven-day deadline. Additionally, HTX extended an invitation to the hacker to join the exchange as a security white hat advisor.
Although $7.9 million is a substantial loss, it only represents a fraction of the wealth entrusted to HTX. The exchange safeguards approximately $3 billion in assets for its users, making the stolen amount equivalent to two weeks’ worth of revenue for the HTX platform.
The HTX native token, HT, has since stabilized with a current value of $2.43. It experienced a slight decline of 1.24% after the hack, but has since recovered.
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