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- 1 A ‘X’ post by Justin Sun quotes that Huobi HTX lost over 5k ETH in a hack.
- 2 The exchange is willing to use the 5% of stolen funds as a white hat bonus to encourage the hacker to return the funds.
- 3 Mixin Network, a service resembling a layer-2 protocol, lost over $200 Million in a hack.
Huobi HTX, a globally popular cryptocurrency exchange, lost around 5000 Ethereum due to an attack by bad actors. The information about the attack was posted by Justin Sun, who is working as an advisor to Huobi.
However, in his ‘X’ post, Sun wrote that Huobi HTX has entirely borne the losses caused by the hackers’ attack and succeeded in resolving all related issues. It is important to note that all users’ assets are safe, and the exchange works generally as usual.
He further quoted in his posts that “Compared to the $3 billion in assets held by Huobi HTX users, $8 million is a small number.” He added, “This is only equivalent to two weeks of revenue from the HTX platform.”
Huobi HTX discovered the problem on September 24 and took prompt measures to prevent any losses.
All funds are safe, and exchange transactions are entirely every day. We quickly resolved and addressed all issues, promptly returning the platform to regular status.
As an advisor to Huobi HTX Sun stated, “The exchange is willing to use the 5% of stolen funds as a white hat bonus to encourage the hacker to return the stolen funds”.
Sun assured the hacker, “If he returns the stolen fund, then Huboi HTX will hire him as a Huobi security white hat consultant.”
In a different scenario, Sun said if hackers fail to return the funds in 7 days, then the exchange will hand over the proof to police officials and request judicial punishment for the hacker.
Mixin Network Lost $200 Million in a Hack
SlowMist, a blockchain security consultancy, claimed that Mixin Network, a service resembling a layer 2 protocol, lost over $200 Million in a hack.
Later, Mixin Network confirmed that “In the early morning of September 23, the database of Mixin Network’s cloud service provider was attacked by hackers, resulting in the loss of some assets on the mainnet.”
Many crypto analysts and market watchers claim that bad actors mostly see scope in unethical hacking and believe that the best way to get rich is to commit fraud and scams.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
