Huobi’s HTX Exchange Resumes Operations After $13.6M Breach

HTX, formerly Huobi Global, a cryptocurrency exchange, will recommence deposits and withdrawals within twenty-four hours of a $13.6 million breach that occurred on November 22.

The exchange, as stated in its official statement, has pledged to “completely reimburse users for the damages incurred as a result of this breach and provide a guarantee regarding the security of their funds.”

Furthermore, the developers stated that “the sum of money lost by Huobi HTX at this time represents an extremely minute proportion of the platform’s total funds” and that the incident had no impact on the “routine operations” of HTX.

The previous day, Huobi’s exchange hot wallets were compromised for $13.6 million as part of an $86.6 million attack orchestrated against the HTX Eco (HECO) Chain Bridge, which is comprised of HTX, Tron (TRX), and BitTorrent (BTT).

De facto control or interconnection exists between all three entities and Chinese blockchain entrepreneur Justin Sun.

Similar to prior incidents, HTX said that “protecting user assets and information security is our highest responsibility, and we will take all necessary measures to prevent such incidents from happening again.”

Entities associated with HTX and Justin Sun have experienced four hacking incidents in the last two months.

The $100 million Poloniex exploit that occurred on November 10 due to an apparent compromise of private keys was the largest. “We are currently investigating the precise motives behind the hacker attack,” Sun has stated.

We will recommence services as soon as the investigation is concluded and the root cause has been identified.

At the time of publication, a $10 million white hat bounty for the return of funds taken in the $100 million Poloniex exploit remains active.