HTX Hack Update: Stolen $8 Million Recovered

Crypto News – The funds that were taken by a hacker in late September have been returned, according to Huobi Global‘s cryptocurrency exchange HTX, which also announced a 250 Ether reward once the problem was fixed.

HTX Hack Update: Stolen $8 Million Recovered

On September 25, 5,000 ETH, which was valued at about $8 million at the time, were stolen from one of HTX’s hot wallets. The company got in touch with the hacker shortly after it happened and claimed to know who they were. Finally, HTX agreed to forgo legal action in exchange for a 5% prize worth around $400,000 and the prompt repatriation of 95% of the assets by October 2.

The hacker made the right choice. We would like to express our gratitude to everyone in the industry for their help! Strengthening blockchain security and protecting user assets is never an easy task, and we have been working tirelessly! Providing full security for user assets is always our goal to strive for! We are thankful for the continued support of our users and community!

Justin Sun, Huobi Global investor and HTX adviser

According to Statistics, Hack Rates Have Increased Enormously

In the third quarter of 2023, hackers will have started proliferating. In Q3 2023, there were 76 hacks on crypto and Web3 projects and businesses, up from 30 in Q3 2022, according to a new study from blockchain security platform Immunefi.

In the same week that HTX was compromised, a third-party cloud service provider was attacked, leading to the $200 million hack of the decentralized cross-chain protocol Mixin Network.