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HTX to restore services ‘within 24 hours’ after $13.6M hack

HTX to restore services ‘within 24 hours’ after $13.6M hack

The cryptocurrency exchange formerly known as Houbi Global, HTX, has announced that it will resume deposits and withdrawals within 24 hours after experiencing a $13.6 million exploit on November 22.

In the announcement, the exchange guaranteed to “fully compensate for the losses caused by this attack and 100% guarantee the safety of user funds.” Additionally, it stated that the amount of funds lost in the attack is relatively small and that normal operations of HTX were not impacted.

The day before, Huobi encountered a $13.6 million hack to its exchange hot wallets as part of an $86.6 million attack against the HTX Eco (HECO) Chain bridge, which involved HTX, Tron, and BitTorrent. All three entities are linked to Chinese blockchain entrepreneur Justin Sun.

In response to the incidents, HTX emphasized its commitment to protecting user assets and information security, pledging to take all necessary measures to prevent future attacks. Over the past two months, HTX and Sun-linked entities have been targeted in four separate hacks. The largest of these was the $100 million Poloniex exploit on November 10.

Sun has expressed that they are investigating the reasons for the attacks and will resume services once the investigation is completed. Additionally, a $10 million white hat bounty for the return of stolen funds in the $100 million Poloniex exploit is still open at the time of publication.

Related: Huobi’s new name, HTX, raises community eyebrows