HTX Exchange Faces a $7.9 Million Hack
HTX, formerly Huobi, faced a $7.9 million hack. Advisor Justin Sun assures customers their money is safe and offers a deal to the hackers. Meanwhile, HTX unveils its new name.
HTX, once called Huobi, had a security problem where hackers took 5,000 Ether (ETH), valued at $7.9 million. Justin Sun, an advisor, talked about this on X (once Twitter).
Sun said: "5,000 ETH ($8 million) was taken by hackers from HTX. But HTX has covered this loss, and everything on the platform is now fine. Customers' money is safe." He thinks this loss is small compared to the $3 billion of total assets held by HTX users. The loss is like the money HTX makes in two weeks. Sun praised HTX for quickly solving the problem.
For the hackers, Sun has a deal: "Return the stolen money and get a 5% reward (400,000 USD)." Also, the hacker could get a security job at HTX. But if the hacker doesn't return the money in 7 days, they could face legal trouble.
HTX, celebrating 10 years, recently changed its name from Huobi. Sun said the new name is for a worldwide audience. But in places where people speak Chinese, they'll still use the name Huobi.
Lastly, Sun started a new crypto project involving Tether, called stUSDT. In a short time, it attracted investments of $1.8 billion. But some people are concerned because to join, you must use the HTX platform. They fear a big money withdrawal could hurt HTX.
