The cryptocurrency exchange HTX (formerly Huobi) was targeted by a cyberattack, resulting in a loss of approximately $7.9 million in 5,000 ETH. The security breach is a troubling reminder of the persistent threats facing the cryptocurrency industry.
CyversAlerts, a well-known organization in the field of crypto security, reported the hack first.
The attack was successful due to a vulnerability in one of HTX’s readily available cryptocurrency wallets with an internet connection, called hot wallets.
🚨Red Code🚨Yesterday, our ML-powered system detected a suspicious transaction involving @HuobiGlobal and @HTX_Global.
Despite our attempts to reach out, we received no response. An EOA received 5K $ETH $7.9M from @HuobiGlobal's hot wallet.🔍 This morning, we spotted… pic.twitter.com/3oqHhAVi8P
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) September 25, 2023
Justin Sun, the investor in HTX Global, explicitly acknowledged the September 25, 2023 attack on X.
HTX @HTX_Global has suffered a loss of 5,000 #Eth ($8 million USD) due to a hacker attack. HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues. All user assets are #SAFU and the platform is operating completely normally.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) September 25, 2023
HTX Makes Hackers An Offer If They Return Stolen Funds
As per the reports by CyberAlerts, the global exchange has identified the culprits and their cryptocurrency wallet addresses. The exchange contacted the offenders and presented them with an interesting proposal.
Based on information available on Etherscan, the exchange sent a transaction and a message to the hacker’s wallet address.
They informed the offenders of their identity and requested the return of the money within a specific timeframe.
HTX has committed to providing a 5% bonus to the individuals responsible for the theft of $400K.
The exchange issued a warning: if the hacker didn’t return the money in seven days, the business would report the incident and take legal action.
According to CoinMarketCap, the HT token is now trading at approximately $2.44 and has decreased by 0.32% over the past 24 hours.
The incident highlights the need for industry players to remain vigilant and proactive in their approach to cybersecurity. Further investigation is necessary to determine the extent of the damage and whether there were any vulnerabilities in the exchange’s security measures that may have contributed to the breach.
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