HTX, Formerly Huobi, Recovers $8M in ETH From Hacker

Centralized cryptocurrency exchange HTX, formerly known as Huobi Global, was able to recover $8 million in stolen Ethereum (ETH).

October 9, 2023 by Hope C

HTX Has Recovered $8m In ETH From Hacker

Centralized cryptocurrency exchange HTX, formerly known as Huobi Global, was able to recover $8 million in stolen Ethereum (ETH) following a hacking incident in September that drained $7.9 million from a hot wallet, shortly after the exchange’s rebrand which drew comparisons to failed exchange FTX. Justin Sun, the exchange investor and advisor, said on X that he had made contact with the hacker, who agreed to fully return the assets in exchange for a 250 ETH bounty from HTX.

Sun praised the hacker for making "the right choice," and emphasized customer security is HTX’s top priority. According to Immunefi, in the second quarter this year, decentralized finance (DeFi) hacks amounted to $228 million across 79 incidents, while centralized exchanges saw $37 million lost across two incidents.

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