After a Nov. 22 hack caused the cryptocurrency exchange HTX (previously Huobi) to halt operations and lose $30 million, investors have begun withdrawing their funds from the exchange. DefiLlama data indicates that from Nov. 25, the day they reopened for business, and Dec. 10, the exchange had net outflows of almost $258 million.
According to DefiLlama statistics, 31.8% of Tron TRX tickers down $0.1036 and 32.3% of Bitcoin BTC tickers down $41,298 make up HTX’s reserves. The native currency of Sun’s 2017 blockchain, the Tron network, is called TRX. According to CoinMarketCap statistics, this is now the sixteenth-largest cryptocurrency exchange by daily trading volume, having transacted $1.6 billion in the previous day.
HTX Customers To Get Full Wallet Reimbursement Upon Significant Losses
Sun stated an investigation was in progress and assured any impacted customers that they would get full reimbursement for the hot wallet losses upon their resumption on Nov. 25. Four hacks have targeted the company and other Sun-affiliated organizations in the last two months, including the Eco Chain (HECO) bridge and cryptocurrency market Poloniex. Less than two weeks after the exchange changed its name to HTX, there was the first breach, on September 24, 2023, when an unidentified attacker took off with around $8 million in cryptocurrency.
The biggest exploit, which occurred on November 10 and was purportedly caused by a private key breach, involved the $100 million Poloniex exchange. On November 22, there was a significant hack on HECO Chain bridge, a platform for transferring digital assets between HTX and other blockchain networks. Hackers gained access to HECO’s network and transferred at least $86.6 million to shady addresses.
In contrast, November proved to be the most successful month for cryptocurrency theft in 2023, with $363 million worth of illicitly obtained digital assets being taken by hackers and other bad actors.
