HTX Crypto Exchange Overcomes DDoS Attack, Assures Users Funds Are Secure

HTX, the cryptocurrency exchange, has successfully rebounded after experiencing a Distributed Denial-of-Service (DDoS) attack that temporarily overwhelmed its platform this morning. HTX advisor Justin Sun assured users that all services have been restored, and “all funds are SAFU” (Secure Asset For Users).

The DDoS attack, which lasted approximately 15 minutes on Friday morning, aimed to flood the HTX website with traffic, rendering it unresponsive and inaccessible to legitimate users. DDoS attacks can be disruptive, costing organizations time and money as their services become temporarily unavailable.

火币HTX所有服务已经恢复。感谢您的关心与支持！所有资金都是安全的！All services of https://t.co/sqTQec4uv5 have been restored. Thank you for your concern and support! All funds are SAFU!

— H.E. Justin Sun 孙宇晨(hiring) (@justinsuntron) January 19, 2024

This incident comes on the heels of a challenging year for HTX, as the exchange, along with its sister platform Poloniex, faced a hacking attempt that resulted in the loss of over $200 million. In response to the attack, Sun emphasized the security of users’ assets, stating that all losses had been covered and customer assets were 100% safe.

“Even though, in terms of exchanges itself, we need to basically earn those profits in the future. But for customer assets, it’s 100% safe,”

Sun assured in a December 2023 interview with CoinDesk.

Earlier in the year, Sun faced legal challenges when the United States Securities and Exchange Commission (SEC) filed a lawsuit against him for allegedly selling unregistered securities related to his tokens Tronix (TRX) and BitTorrent (BTT).

The SEC accused Sun of engaging in “wash trading” and paying high-profile figures, including celebrities like Lindsay Lohan, Jake Paul, and Lil Yachty, to promote TRX and BTT without disclosing their compensation.

Despite these challenges, HTX remained resilient, emphasizing the small fraction of reserves affected by the hacking attempt and maintaining stable, healthy operations.

HTX’s Security Protocols and User Trust

The recent DDoS attack on HTX follows a notable report by blockchain analytics firm Chainalysis, revealing a 54.3% decrease in illicit revenue from cryptocurrency hacking in 2023. The report suggests that this decline may signify improvements in security practices, particularly within decentralized finance (DeFi) protocols.

As HTX recovers from the DDoS attack, the cryptocurrency community awaits any potential changes in the exchange’s security protocols and measures it may adopt to enhance its resilience against such threats in the future. Users are likely to keep a close eye on the exchange’s ongoing commitment to safeguarding their assets amidst an evolving landscape of cybersecurity challenges.