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INTERNATIONAL BUSINESS TIMES NEWSLETTER SIGNUP My account Log Out Nov 24, 5:23 AM EST World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Crypto Opinion NEWSLETTER My account Log Out US Edition World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Crypto Opinion Listings & More Spotlight Glossary Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States NEWSLETTER Follow Us Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States Crypto Crypto Business Justin Sun-Linked HTX Resumes Services Following $30M Exploit; Crypto Exchange Hacked Twice In 2023 By Nica Osorio @nicaIBTimes 11/24/23 AT 4:18 AM EST Share on Facebook Share on Twitter Share on LinkedIn Share on Reddit Share on Flipboard Share on Pocket Crypto Hacking - Bitcoin Bybit/flickr.com HTX, the cryptocurrency exchange linked to Justin Sun, who serves as its adviser, has restored its services after becoming a victim of a hack for the second time since rebranding from Huobi. The hack saw around $30 million leave the platform's coffers. Following the hack, HTX announced that it would restore its services within 24 hours. "Huobi HTX is expected to resume deposit and withdrawal services within 24 hours," the exchange said Thursday morning, adding that "the specific resumption time will be notified again. Please pay attention to the platform announcement." The Seychelles-based cryptocurrency exchange said that the hacked amount was "very small" compared to the total amount of funds the platform had and promised to "fully compensate" the users. It claimed that the hack had already been "properly handled." "Huobi HTX has now properly handled this attack. Huobi HTX once again promises to fully compensate for the losses caused by this attack and 100% guarantee the safety of user funds. The amount of funds lost by Huobi HTX this time accounts for a very small amount of the total funds of the platform. The normal operation of Huobi HTX will not be affected by this. Users should rest assured," it said in a blog post . The exchange also thanked its users, adding that it would take all necessary measures to safeguard the funds and prevent incidents such as this from happening again. "Thank you for your trust and support. Protecting user assets and information security is our highest responsibility, and we will take all necessary measures to prevent such incidents from happening again," HTX said. On Wednesday, the crypto exchange, which was founded in China, lost $30 million due to a hot wallet breach that was initially reported to be around $13.6 million. Sun, the Chinese-born Grenadian crypto entrepreneur, confirmed the hack and assured customers that they would be fully compensated. "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 attack. Once we complete the investigation and identify the cause, we will resume services," he shared in a post on X. 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 exchange rebranded as HTX in September and experienced a loss of approximately $8 million due to a hack the same month. Read more Grayscale Files Updated Spot Bitcoin ETF Prospectus After Meeting With SEC Binance Transferred $3.9B In Tether From Cold Wallet Prior To Settlement With DoJ BlackRock Meets With SEC, Defies Cash Creations And Pushes For In-Kind Spot Bitcoin ETF © Copyright IBTimes 2023. All rights reserved. Join the Discussion MOST READ IN Crypto 1 Bankman-Fried Loses Again As Court Denies Request For Release As His Team Appeals Conviction 2 Binance Transferred $3.9B In Tether From Cold Wallet Prior To Settlement With DoJ 3 Grayscale Files Updated Spot Bitcoin ETF Prospectus After Meeting With SEC 4 BlackRock Meets With SEC, Defies Cash Creations And Pushes For In-Kind Spot Bitcoin ETF 5 Shytoshi Kusama Teases Shib Army, Spills Plan For Doge-Killer LEASH NEWS World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Opinion Featured Social Capital Glossary SMB Forum Spotlight Crypto K-Wave ABOUT About Us Contact us Advertise with us Terms & Conditions Privacy Policy Cookie Policy Editions United States Australia Brazil Colombia France Germany Indonesia India International Italy Editions Japan Nigeria Singapore South Africa South Korea Spain Mexico United Kingdom FOLLOW US Facebook Twitter LinkedIn Newsletter © Copyright 2023 IBTimes LLC. All Rights Reserved.
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