HTX Recommence Operations After Temporary Halt Due to Hack

Godspower Owie

1 year ago

3 mins read

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Cryptocurrency exchange HTX (formerly Houbi) has recently announced its resumptions of operations after being halted for a while due to a recent exploit.

HTX To Resume Services Later Today

HTX, one of the world’s leading crypto exchanges, has confirmed the resumptions of its withdrawal and deposit services later today. However, the crypto company should have provided a specific time for the resumption. The crypto exchange said:

In addition, HTX (Huobi) 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.

The announcement also saw the crypto firm asserting that the recent hack has been “appropriately handled.” This ultimately led to halting the platform’s services to prevent more losses.

Furthermore, the crypto exchange has once again asserted its promises to compensate its users for their losses due to the recent hack. The platform stated:

Huobi HTX has now properly handled this attack. Huobi HTX once again promises to fully compensate for the losses caused by this attack and 100% guarantee the safety of user funds.

The crypto platform stated that the funds lost in the hack were “small” compared to its total funds. The company’s operations are unaffected. The crypto platform stated:

The amount of funds lost by Huobi HTX this time accounts for a “very small amount” of the total funds of the platform. The normal operation of Huobi HTX will not be affected by this. Users should rest assured.

The Crypto Exchange Fell Victim To Hack

On Wednesday, November 22, HTX and blockchain protocol Heco Chain experienced an exploit amassing over $100 million in several assets.

The hack was detected by on-chain investigator Cyvers Alerts, alerting the platform of the transactions. According to Cyvers Alert, the total assets lost by HTX were around $23 million, while Heco Chain lost over $85 million.

The platform’s advisor, Justin Sun, later confirmed the hack in a post. The advisor took to X (formerly Twitter) to shed more light on the hack and the company’s intention in handling it.

The exploit comes after an October $8 million attack on HTX. The attack resulted in about 500 Ethereum stolen from the exchange. However, in the days that followed the tragedy, all losses were completely compensated.

So far, the company has expressed its commitment to preventing such hacks from ever retaking place. Meanwhile, its customers’ well-being will be its highest responsibility.

htd htx htdusdt — HTUSDT trades to the downside on the daily chart. Source: **HTUSDT on Tradingview**

Featured image from Linkedin, chart by Tradingview.com

Godspower Owie

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

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