Bitcoin deposits and withdrawals have been reinstated on HTX, the cryptocurrency exchange previously known as Huobi, following a devastating $30 million security breach that occurred on November 22.
In an official blog post dated November 26, HTX announced the resumption of deposit and withdrawal services for several cryptocurrencies, including Bitcoin (BTC), Ethereum (Ether), Tron, and Tether (USDT).
Justin Sun, the prominent figure associated with HTX, shared a subsequent update on X (formerly Twitter), revealing HTX’s intention to progressively restore functionality for the remaining cryptocurrencies. Sun expressed optimism that this process would be completed “by next week.”
The recent security incident marked the fourth hack in just two months to afflict crypto platforms linked to or controlled by Justin Sun.
HTX’s exchange hot wallets suffered a massive $30 million loss during this latest breach.
Additionally, on the same fateful day, the HTX Eco Chain bridge, involving HTX, Tron, and BitTorrent, all entities associated with Sun, fell victim to an $86.6 million cyberattack.
Another Sun-owned cryptocurrency exchange, Poloniex, faced its own ordeal when it experienced a $100 million attack on November 10.
Blockchain security firm CertiK indicated that this incident likely resulted from a compromise of private keys.
The series of security breaches dates back to September 24, shortly after the rebranding of Huobi to HTX.
During this earlier attack, an assailant made off with nearly $8 million worth of cryptocurrencies from the exchange’s hot wallet.
These security breaches have raised significant concerns within the cryptocurrency community, highlighting the vulnerability of platforms and the pressing need for robust security measures in the ever-evolving landscape of digital assets.
HTX’s efforts to restore services and enhance security are a crucial step in regaining trust and stability for its users and the broader cryptocurrency market.
Discover the Crypto Intelligence Blockchain Council
