Breaking: HTX Global (Huobi) Loses $7.9 Million in Security Breach

HTX Global (formerly Huobi), a prominent cryptocurrency exchange, has fallen victim to a major security breach, resulting in a staggering loss of $7.9 million. The breach was first detected by the vigilant monitoring system of CyversAlerts, raising concerns about the security measures employed by cryptocurrency exchanges worldwide.

The suspicious transaction that raised alarm bells involved HTX Global. Despite attempts to contact them, there was no response from either party. The transaction in question saw 5,000 ETH, equivalent to $7.9 million, being transferred from Huobi Global’s hot wallet.

Today, according to CyversAlerts observed an unusual hot wallet migration by HTX Global, as announced on their support page. The migration served as a red flag, prompting further investigation. It has since been confirmed that one of HTX Global’s hot wallets was compromised, leading to significant financial loss.

What makes this situation even more intriguing is the response from Huobi Global. In an unexpected move, the exchange offered a 5% white hat bonus to the hacker, as evidenced by a transaction on Etherscan.

This incident follows closely on the heels of another security breach reported by CyversAlerts two weeks ago, involving CoinEx. CyversAlerts was the first to report a loss of $70 million at CoinEx. According to CyversAlerts, they detected a series of suspicious transactions in CoinEx’s Ethereum hot wallet. These suspicious transactions, involving Ethereum, TRON, and Polygon, have led to an estimated loss of approximately $27.8 million in cryptocurrency assets.

In a recent tweet, Justin Sun announced that the platform had fallen victim to a hacker attack resulting in a loss of 5,000 ETH, equivalent to approximately $8 million USD. However, Sun was quick to assure the HTX community and the wider cryptocurrency world that the situation had been swiftly and effectively managed. HTX Global took full responsibility for covering the losses incurred from the attack and assured users that all assets remained “SAFU,” emphasizing that the platform was operating entirely normally.

In a series of tweets, Justin Sun shared key details about the incident. He disclosed the hacker’s addresses as 0xdb1D74467c9042517A354304256E0d658D8AEC83 and 0x799982b75Ba538F211871cBa50Fa1A42ADa9ab5E, providing transparency regarding the security breach. Sun also put the scale of the loss into perspective, stating that the $8 million represented a relatively small sum compared to the substantial $3 billion worth of assets held by HTX Global users.

Additionally, he noted that this loss amounted to only two weeks’ revenue for the HTX platform. Justin Sun emphasized the swift response of the HTX team, who detected the hack immediately after the incident on September 24, 2023, at 6 p.m. SGT. Their rapid actions prevented any further losses, and the platform’s operations continued without disruption. This incident highlights the importance of vigilant monitoring and proactive security measures within the cryptocurrency industry.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

Follow us on Reddit

You might also like