2023-12-11 17:02:10
More than $256 million worth of assets were withdrawn from the HTX exchange following a serious hacker attack. This has raised serious security and trust concerns in the crypto world.
A massive $256 million was withdrawn from the HTX exchange, which is linked to Chinese crypto mogul Justin Sun. HTX was formerly known as Huobi. This massive wave of referrals happened right around the time that HTX was restarting operations following falling victim to a major hacker attack back in November. This outflow took place between November 25 and December 10, Defilama data according to This shows that the security incident caused severe panic among some customers.
During the attack, HTX lost $30 million worth of crypto tokens, which temporarily halted withdrawals and deposits on the platform. HTX has assured its users that they will investigate the incident and fully compensate hot wallet losses. However, despite this, the community seems to be concerned and closely watching what might happen following the attack.
Part of a Justin Sun exit scam plan?
Justin Sun, the man behind HTX, is also reported to be involved in some form with Poloniex and Heco Bridge. These platforms were also hit by a hacker attack in November. Hackers stole around $134 million worth of cryptocurrency from Poloniex and siphoned $86 million worth of tokens from Heco Bridge. This serial attack, which may be linked to Justin Sun’s interests, is becoming suspicious within the crypto community. Many people think that this might also be an exit scam.
The TRX token launched by Justin Sun is also currently being investigated for suspected fraud. Earlier this year, the Securities and Exchange Commission (SEC) accused Sun and its companies of market manipulation, further complicating the situation.
So digital asset investors are watching closely to see how HTX, which has an average daily trading volume of $1.6 billion, navigates the followingmath of the hacking attack. After the attack, the security and integrity of HTX was also called into question. Because it turned out that HTX’s reserve consisted mainly of Bitcoin and TRX tokens. The crypto-community therefore continues to watch developments, stressing the need for robust security measures and transparency in the ever-evolving market for digital assets.
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