Crypto exchange HTX has suffered a hack that cost it 5,000 Ethereum (ETH) or almost $8 million. The platform claims to have identified the hacker. However, HTX is willing to reward him rather than punish him. The exchange is prepared to donate 5% of the stolen funds if they are returned by October 2.
HTX loses $8 million to hack!
The crypto ecosystem continues to be the target of cyberattacks! On September 24, cryptocurrency exchange HTX formerly known as Huobi has been the victim of a hack. According to Justin Sun – the CEO of the centralised exchange (CEX) – HTX lost 5,000 Ethereum (ETH, in other words, the equivalent of $8 million).
The hack was quickly detected by HTX, which took steps to contain it. Platform operations have been restored and the losses incurred have been covered announced Justin Sun.
Despite the $8 million theft, HTX users shouldn’t worry. Their assets are fully secure, assured CEO of HTX. In the end, the $8 million loss represents very little compared with the exchange’s $3 billion capitalisation. Furthermore, this amount would represent only two weeks of revenues for the platform HTX.
Pirate identified and soon to be rewarded
The exchange hacker has apparently been identified, and his two addresses have even been revealed. However, HTX is not interested in tracking down the pirate for the time being. On the contrary, the platform wants to reward him.
The exchange plans to offer him 5% of the stolen funds if he returns them, i.e. 400 000 $. In addition, the hacker could be hired as a security consultant for HTX if he repays the funds.
The tempting offer made to the hacker does come with a time limit. The hacker has 7 days, i.e. until October 2, to return the funds. If no repayment is made by the deadline, the case will be referred to the courts.
Interestingly, HTX quickly resolved the security breach and covered all losses. This guarantees the security of users’ assets as recently done by It is vital that platforms act quickly and transparently in such situations, in order to maintain user confidence and service integrity. However, the measures taken against the hacker seem unprecedented.
What decision would you make if you were the hacker?
I dream of a world where every citizen has total control over themselves, including their finances. I believe that Bitcoin is one of the tools that will achieve this revolution. Since 2019, I am learning about this cryptocurrency and spreading the word around.
