HTX Exchange Fully Reinstates Bitcoin Deposits and Withdrawals After Hacking Attack
On X, the widely known digital-asset entrepreneur Justin Sun announced that HTX, the cryptocurrency exchange linked to him, has fully reinstated Bitcoin deposits and withdrawals after being targeted in a hacking attack.
The Restoration of Functionality
Sun shared the news of HTX’s complete deposit and withdrawal functionality for major currencies, including BTC, ETH, TRX, and USDT, on X, which was previously known as Twitter.
The hacking attack, which took place recently, affected both HTX and Poloniex, another exchange that Sun backs. The two separate exploits are estimated to have siphoned off over $110 million worth of cryptocurrencies. Last week, Sun confirmed the hacking incident on HTX, while an HTX spokesperson revealed that approximately $30 million worth of cryptocurrencies were stolen from the exchange wallet.
Rebranding and Revival
Sun had announced HTX’s rebranding from Huobi exchange during an event in Singapore on September 13th. This move was aimed at rejuvenating the exchange’s image and attracting more users. However, the hacking attack has put a dent in the exchange’s efforts to rebuild its reputation and regain the trust of the crypto community.
Delving into the Aftermath
The aftermath of the hacking attack has sparked concerns within the cryptocurrency industry and its stakeholders. With millions of dollars worth of cryptocurrencies stolen, there are growing apprehensions about the security measures implemented crypto exchanges and the safety of digital assets stored on these platforms.
Looking Ahead
Following the restoration of Bitcoin deposits and withdrawals, HTX aims to convey a message of reassurance to its users and the broader cryptocurrency community. It seeks to demonstrate that the exchange has taken significant steps to enhance its security and prevent such incidents from reoccurring in the future.
This recent hacking incident is a reminder of the persistent threats faced the cryptocurrency industry, and the need for continuous vigilance and proactive security measures. As the industry continues to evolve and expand, exchanges like HTX will need to prioritize the protection of their users’ assets to ensure trust and stability within the market.
I’m a cryptocurrency and blockchain technology journalist. My work has been featured in major publications such as CoinDesk, Bitcoin Magazine, and VentureBeat. I’ve been a respected voice in the cryptocurrency community and my insights into the industry have helped shape its development.
