In the latest security breach to impact the HTX ecosystem, formerly known as Huobi Global, the exchange suffered a loss of $13.6 million through a hot wallet hack on November 22, marking the fourth such incident in just two months.
In response, HTX assured users in its announcement on November 23 that it would fully compensate for the losses incurred in this attack and provide a 100% guarantee for the safety of user funds. The exchange also pledged to restore services within 24 hours of the breach.
The preceding day saw the HTX Eco Chain (HECO) bridge exploited, resulting in a loss of $86.6 million, and an ongoing investigation is underway to address the incident. This comes after a $7.9 million hack on the HTX exchange in September and a subsequent $100 million hack on the related Poloniex exchange in November.
Justin Sun, the prominent Chinese blockchain personality and de facto owner of HTX, along with being the owner of Poloniex, founder of Tron, and CEO of BitTorrent, affirmed the commitment to compensate for the hot wallet losses, emphasizing the security of all funds in HTX.
Sun had previously assured users of the safety of their assets with the hashtag #SAFU following the September hack.
Despite undergoing a rebranding to HTX during the Token 2049 event in September and executive statements reassuring the exchange’s well-being, HTX encountered several significant incidents throughout the year, including an alleged employee revolt.