Operations ‘expected to resume’ on HTX after $100m exploit

On Nov. 22, the cryptocurrency exchange linked to Justin Sun HTX (formerly Huobi) commented on a recent attack on the platform resulting in the multi-million dollar loss.

Earlier this week, reports surfaced that HTX and the HECO network were hacked by unknown persons who withdrew assets worth a combined $110 million.

Company representatives for HTX took to X on Nov. 22 and published a note that says it promises to fully compensate for losses caused by the recent attack, which resulted in over $23 million in suspicious transfers leaving that platform.

“Huobi HTX is expected to resume deposit and withdrawal services within 24 hours. The specific resumption time will be notified again. Please pay attention to the platform announcement.”

HTX team

Initially, security specialists from the Cyvers Alerts service announced the hack. According to Cyvers, a minimum of $86.6 million was withdrawn from Heco Bridge and another $23.4 million from HTX.

Later, information about the hack was confirmed by Justin Sun, an advisor to the affected exchange, who added that HTX will fully compensate for the losses.

Before this, unknown hackers accessed one of the wallets of the Poloniex exchange, which also belongs to Sun. Later, the company’s management offered the hacker a $10 million reward for returning the funds. That bounty has so far not been accepted.

During Q3 of 2023, the cryptocurrency sector suffered a total loss of almost $890 million due to hacks, scams, and rug pulls.