HTX

HTX exchange grapples with a $258 million net outflow following four cyber attacks in the last two months. Diverse reserves and substantial trading volumes reflect its continued influence, but persistent security challenges highlight broader concerns in the cryptocurrency ecosystem.

HTX, formerly Huobi, swiftly resumes operations, including Bitcoin transactions, after a $30 million exploit, as part of a series of security challenges in the Sun-linked crypto ecosystem.

HTX, formerly Huobi Global, grapples with its fourth hack in two months, losing $30 million, raising concerns about the exchange's security despite reassurances from executives.

This incident follows a string of exploits related to Justin Sun, who just saw Poloniex suffer a $100 million hack this month.

Sun's projection for the fourth quarter of 2023 is that HTX will generate $190 million in revenue and incur $88 million in expenses, yielding an estimated profit of $104 million.

Leading crypto exchanges Huobi and KuCoin were among over 140 digital asset companies recently added to the UK Financial Conduct Authority's (FCA) warning list.

Users won't have the protection of the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS) if issues arise.

He also stated that the hacker had been awarded a white hat reward of 250 ETH, equivalent to approximately $410,000, as previously agreed.