By Philip Maina
1 day agoFri Nov 24 2023 09:44:04
Reading Time: 2 minutes
- Crypto exchange HTX has announced that it will reactivate deposit and withdrawal services
- The exchange had deactivated the service after a hack that siphoned around 30 million from the platform
- The platform said that the attacker only accessed a small fraction of its funds
Cryptocurrency exchange HTX (formerly Huobi Global) is preparing to resume deposit and withdrawal services almost a day after halting them due to an exploit that siphoned approximately $30 million from the platform. The exchange disclosed that the attacker only accessed a small fraction “of the total funds on the platform,” adding that it will fully compensate users affected by the hack. Although the exchange said that “protecting user assets” is their “highest responsibility,” they seem to have missed a step since the hack is the second in two months.
Exact Time Not Provided
According to HTX, the two services will be reactivated after 24 hours although it never provided an exact time, only saying that the actual time will be announced later.
HTX revealed that it has “properly handled” the security incident, adding that the exploit won’t hamper the platform’s “normal operation.”
The exchange’s security was compromised on November 22 alongside an exploit on its decentralized platform HECO Chain Bridge which lost $86 million.
HTX and Heco Cross-Chain Bridge Undergo Hacker Attack. HTX Will Fully Compensate for HTX’s hot wallet Losses. Deposits and Withdrawals Temporarily Suspended. All Funds in HTX Are Secure, and the Community Can Rest Assured. We are investigating the specific reasons for the hacker…
— H.E. Justin Sun 孙宇晨 (@justinsuntron) November 22, 2023
The HTX hack has brought scrutiny on the security strength of Justin Sun-linked entities. Earlier this month, for example, another Sun-owned exchange Poloniex was hacked for over $100 million with blockchain sleuths linking it to a private key leak/compromise.
Will HTX Offer a Bounty?
HTX has however not revealed how the hacker gained access to its hot wallets nor has it announced whether it’s in touch with the attacker or if it plans to offer a bounty.
Blockchain investigators are also yet to link the attack to known malicious groups like the North Korean Lazarus hacking group that has been changing its exchange hacking techniques.
Although HTX is resuming deposit and withdrawal services, it’s unclear whether the exchange has fixed the vulnerability.
