March 1, 2024

Crypto exchange HTX reinstates Bitcoin services after $30M hack

Justin Sun said he expects functionality for other cryptocurrencies to gradually be reinstated with full services returning by next week.

Bitcoin (BTC) deposits and withdrawals have returned to the Justin Sun-linked crypto exchange HTX, formerly Huobi, after it suffered a $30 million exploit on Nov. 22.

In a Nov. 26 blog post, HTX said deposit and withdrawal functionality is back for multiple currencies, including BTC, Ether (ETH), Tron (TRX) and Tether (USDT).

In a later post on X (Twitter), Justin Sun said HTX aims to gradually bring back functionality to the remaining cryptocurrencies, which he expects to be done “by next week.”

HTX’s exchange hot wallets were drained of $30 million and was one of the four hacks in half as many months on Sun-linked or controlled crypto platforms.

The HTX Eco (HECO) Chain bridge — consisting of HTX, Tron and BitTorrent, all linked to or controlled by Sun — was attacked for $86.6 million on the same day as HTX.

Related: HECO Chain bridge compromised over $86.6M sent to suspicious addresses

The Sun-owned crypto exchange Poloniex also suffered a $100 million attack on Nov. 10, which blockchain security firm CertiK said was likely due to a private key compromise.

On Sept. 24, shortly after Huobi was rebranded to HTX, an attacker stole nearly $8 million in crypto from the exchange’s hot wallet.

Magazine: Asia Express: HTX hacked again for $30M, 100K Koreans test CBDC, Binance 2.0