Tron Founder Justin Sun Says HTX Exchange Hacked, Loses 5,000 ETH

According to several posts on the social media platform X written by Tron founder Justin Sun, the crypto exchange HTX (formally Huobi) was hacked for 5,000 ether. Despite the loss, Sun contends that user funds on the exchange are safe and the “platform is operating completely normally.”

HTX Exchange’s Security Breach Results in 5,000 ETH Loss, Says Tron’s Justin Sun

Justin Sun, the founder of Tron and an advisor of the exchange HTX, took to the social media platform X on Monday to disclose that HTX had been breached. “HTX has suffered a loss of 5,000 [ethereum] ($8 million USD) due to a hacker attack,” Sun wrote. “HTX has fully covered the losses incurred from the attack and has successfully resolved all related issues. All user assets are SAFU and the platform is operating completely normally.”

Sun further shared the ethereum addresses associated with the hacker which include “0xdb1” and “0x799.” Approximately $6.3 million is located in the “0xdb1” wallet. “$8 million represents a relatively small sum in comparison to the $3 billion worth of assets held by our users,” Sun explained on X. “It also amounts to just two weeks’ revenue for the HTX platform.”

The Tron founder added:

We detected the hack immediately after the incident yesterday (6pm SGT 9/24/2023) and took swift action to prevent any losses. As a result, all funds are secure, and trading operations have continued as usual. We promptly addressed and resolved all issues, restoring the platform to its normal state without delay.

Sun said HTX is offering a reward of 5% of the stolen amount ($400,000) as a white hat incentive, aiming to persuade the hacker to return the funds. If the money is returned, Sun said the exchange would consider hiring the individual as a security consultant. However, if the funds aren’t returned within seven days, the company will turn the information over to law enforcement, potentially leading to legal action against the hacker.

The decentralized exchange (dex) platform Mixin recently fell victim to a security breach, leading to a staggering loss of $200 million in cryptocurrency assets.

What do you think about the HTX hack? Share your thoughts and opinions about this subject in the comments section below.

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