On Nov. 22, the cryptocurrency exchange linked to Justin Sun HTX (formerly Huobi) commented on a recent attack on the platform resulting in the multi-million dollar loss. 
Earlier this week, reports surfaced that HTX and the HECO network were <a href="https://www.coindesk.com/tech/2023/11/22/justin-sun-confirms-htx-heco-chain-exploited-after-100m-in-suspicious-transfers/" data-type="link" data-id="https://www.coindesk.com/tech/2023/11/22/justin-sun-confirms-htx-heco-chain-exploited-after-100m-in-suspicious-transfers/" target="_blank" rel="noopener">hacked</a> by unknown persons who withdrew assets worth a combined $110 million. 
Company representatives for HTX took to X on Nov. 22 and published a <a href="https://www.htx.com/support/zh-cn/detail/24955033595175" target="_blank" rel="noopener">note</a> that says it promises to fully compensate for losses caused by the recent attack, which resulted in over $23 million in suspicious transfers leaving that platform. 
<blockquote class="wp-block-quote"> 
 “Huobi HTX 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.” <cite>HTX team</cite>
</blockquote> 
Initially, security specialists from the Cyvers Alerts service announced the hack. According to Cyvers, a minimum of $86.6 million was withdrawn from Heco Bridge and another $23.4 million from HTX. 
Later, information about the hack was confirmed by Justin Sun, an advisor to the affected exchange, who added that HTX will fully compensate for the losses. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 We are detecting multiple suspicious transactions on <a href="https://twitter.com/HTX_Global?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@HTX_Global</a> hot wallets and on <a href="https://twitter.com/HECO_Chain?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@HECO_Chain</a> bridge that were probably executed by the same entity, total value of $100M. <a href="https://t.co/Q5pOfdRTcz" target="_blank">https://t.co/Q5pOfdRTcz</a>— Meir Dolev (@Meir_Dv) <a href="https://twitter.com/Meir_Dv/status/1727286544355250621?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">November 22, 2023</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
Before this, unknown <a href="https://crypto.news/poloniex-hot-wallet-hacked-with-losses-reportedly-over-33m/">hackers</a> accessed one of the wallets of the Poloniex exchange, which also belongs to Sun. Later, the company’s management offered the hacker a $10 million reward for returning the funds. That bounty has so far not been accepted. 
During Q3 of 2023, the cryptocurrency sector suffered a total loss of almost $890 million due to hacks, scams, and rug pulls. 
 You might also like: <a href="https://crypto.news/crypto-losses-soar-to-173m-in-november-driven-by-poloniex-hack/"> Crypto losses soar to $173m in November, driven by Poloniex hack </a>

Operations ‘expected to resume’ on HTX after $100m exploit

crypto.news

Other articles published on Nov 23, 2023

King of Centurion Mursa, crowned in Malta

8 Best Cryptos to Buy in December- How to Secure End-of-Year Profits?

Where’s The Bitcoin Withdrawn From Binance Going Following The DOJ Saga?

Dogecoin (DOGE) Sees Surge in Massive Transactions

KyberSwap Suffers a Hack of Almost $50 Million

HTX HECO Bridge Faces Massive Hack: $83M Lost With 346Bn SHIBs

Join our free newsletter for daily crypto updates!