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Justin Sun’s linked crypto exchange HTX resumes BTC transactions after hack

source-logo  invezz.com 27 November 2023 09:46, UTC
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Cryptocurrency exchange $HTX has reinstated deposits and withdrawals of Bitcoin ($BTC) after the initial halt. The Justin Sun linked exchange halted the transactions following a hack last week, resulting in a loss of about $30 million worth of digital assets.

Sun confirmed the news on X (formerly Twitter), saying that deposits and withdrawals were back for multiple cryptocurrencies. Bitcoins, Ethereum, $TRX, and Tether are some of the cryptocurrencies whose deposits and withdrawals were returned.

The majority of the work has been accomplished, and we aim to restore the remaining currencies gradually in the next few days, with all work expected to be completed by next week.

— H.E. Justin Sun 孙宇晨 (@justinsuntron) November 26, 2023
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In an official statement, $HTX informed its users that withdrawal services had resumed for certain cryptocurrencies via the ERC20 blockchain.

The exchange also notified its users of a planned extraordinary token airdrop. $HTX said the airdrop will utilise a snapshot of users’ Rocket values, determined on the basis of a 30-day average balance in $USDT. Each $USDT is equivalent to 1 Rocket, with holders of quality assets like $BTC, $TRX, HT, and ETH having their Rocket Values multiplied. The exchange said the details of the airdrop event will come in early December.

Fourth hack in two months targeting Sun’s crypto empire

The $HTX hack is the fourth in two months to target Sun-controlled crypto platforms. On the same day as the $HTX hack, HECO Chain, which consists of Tron, $HTX, and BitTorrent, was hacked, with $86.6 million stolen. Sun said the exchange would fully compensate the affected users, assuring them of the security protection of all of their funds.

On November 10, Poloniex, another Sun-owned crypto exchange, was drained for $100 million. The hack was attributed to a compromise of the exchange’s private key. The hack follows another on September 24, where $HTX lost almost $8 million immediately after rebranding from Huobi Exchange.

The repeat hacks have thrown Sun into the spotlight over the past weeks as users call for enhanced security measures. The Tron founder has taken to social media to reassure users, informing them of the progress of investigations and resumption of services.

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