Cryptocurrency exchange HTX, formerly known as Huobi, was recently subjected to a hack. There is a huge loss as a result of the hack. Accordingly, there is a loss of 5,000 ETH, equivalent to 7.9 million dollars. The incident was confirmed by HTX consultant Justin Sun, who shared the news on social media platform X (formerly Twitter).
Tron CEO Justin Sun spoke about the Huobi Hack
In his announcement, Sun said, “HTX, that is, Huobi, suffered a loss of 5,000 ETH due to a hacker attack.” said. Despite the breach, HTX moved quickly to reassure its customer base. Additionally, “HTX fully covered the losses resulting from the attack. He successfully resolved all relevant issues.” makes his statement.
Sun also emphasized that the stolen Ethereum represents a relatively modest sum compared to the $3 billion in assets held by Huobi users. It also put the scale of the theft into perspective. He also emphasized that the amount of Ethereum stolen was approximately equivalent to HTX’s revenue for just two weeks.
Rebranding amidst challenges
The security breach adds to the recent difficulties faced by HTX, which underwent a significant transformation less than two weeks ago. The exchange, previously known as Huobi, has decided to rebrand as HTX. This strategic shift aims to encourage user adoption. It also sets the stage for the exchange to obtain additional licenses in various jurisdictions in the future.
Despite the setback caused by the hacking incident, Huobi HTX remains committed to protecting user funds and maintaining its reputation as a leading cryptocurrency exchange. This incident is a reminder of the ongoing security risks in the crypto industry. On the other hand, it emphasizes the importance of robust security measures for all players in this field.
The main problem of the cryptocurrency space
HTX’s response to the breach and its commitment to cover losses is remarkable. On the other hand, it shows the exchange’s commitment to maintaining trust and security in the digital asset space. Huobi HTX continues its rebranding journey. In addition, the cryptocurrency community will closely monitor the developments while strengthening the security infrastructure.
When we look at Kriptokoin.com, we see that one of the biggest problems in the cryptocurrency space is hacks. Cryptocurrency exchanges suffer losses due to hacks that come to the fore from time to time. It is possible to see this in the Huobi example. Of course, users suffer the most. The market clearly needs to get out of this impasse. If this problem is not solved, there will be difficulties in establishing confidence in the market. In this context, stock exchanges need to take the highest precautions. In this context, Huobi compensates for the damage for now by covering customer funds.
