HTX Global Recovers from $8 Million Hack, Offers Reward to Hacker

HTX Global, a cryptocurrency platform, recently weathered a security breach resulting in the loss of a substantial sum – 5,000 ETH, valued at approximately $8 million USD. Despite the alarming breach, the platform acted swiftly to ensure user assets remained secure and operational.

The breach happened on September 24, 2023, at 6 p.m. SGT, prompting immediate action from HTX Global. The hacker’s addresses include:

– 0xdb1D74467c9042517A354304256E0d658D8AEC83

– 0x799982b75Ba538F211871cBa50Fa1A42ADa9ab5E

Despite the significant sum involved, which amounted to $8 million USD, it represents only a fraction of HTX Global’s vast asset base, at $3 billion. Moreover, this sum accounts for a small portion of the platform’s two weeks’ revenue.

In a bold move, HTX Global has offered a 5% white hat reward, totalling $400,000 USD, to incentivize the hacker to return the stolen funds. Intriguingly, there’s a potential opportunity for the hacker to secure a security white hat advisor role for HTX Global, should they choose compliance. However, the platform has clarified that legal action will be pursued if the stolen funds are not returned within seven days.

We are willing to offer 5% of the stolen amount (400,000 USD) as a white hat reward to encourage the hacker to return the stolen funds. If the hacker returns the funds, we will also hire them as a security white hat advisor for HTX.

— H.E. Justin Sun 孙宇晨(hiring) (@justinsuntron) September 25, 2023

Stepping Up Security Measures: HTX Approach

In light of this breach, HTX Global’s advisor, Justin Sun, has taken proactive measures to strengthen the platform’s security. He announced the establishment of a SAFU (Secure Asset Fund for Users) fund, reaffirming the platform’s unwavering commitment to prioritizing user asset security. Furthermore, Sun stated that the platform’s multi-backup and multi-signature cold wallet system guarantees 100% security.

“We have established the SAFU fund to be prepared at all times for losses resulting from platform security issues. Additionally, we have implemented real-time monitoring mechanisms to prevent such losses”

Sun affirmed.

HTX Global has extended an olive branch to the hacker. Despite the breach and loss of funds, they have offered the hacker an opportunity to make amends by returning the stolen assets. The 5% white hat reward reflects their willingness to resolve the situation amicably and emphasizes the importance of cybersecurity within the crypto community.

However, HTX Global has made it clear that time is of the essence. The hacker must act within a week and return the funds. The platform is prepared to initiate legal proceedings if this deadline is not met.

NB: Any Information provided is NOT FINANCIAL ADVICE. Do Your Research before making any Financial Decisions.