Since the cryptocurrency exchange HTX, associated with Justin Sun, resumed operations after a serious security incident last month, it has recorded a financial outflow of $248 million.

Major Security Breach Causes Loss of $30 Million

This security breach led to a loss of $30 million in crypto tokens and forced HTX to temporarily suspend all deposits and withdrawals. According to data from DefiLlama, there was a significant capital outflow between November 25 and December 10, indicating some clients' distrust even after the security incident. Although the exchange provided assurances of thorough investigation and compensation for losses, uncertainty among investors persists.

 Justin Sun's Connection to Hacks Worth $200 Million

Justin Sun, connected with HTX, is also linked to the exchanges Poloniex and HECO Bridge. These platforms suffered hacks in November, leading to the theft of approximately $200 million. Sun is under investigation in connection with the TRX token from the Tron blockchain, which he founded in 2017, and faces allegations of fraudulent practices by U.S. authorities.

 Breakdown of HTX Reserves and Recovery of Stolen Funds

As of December 8, HTX's reserves consist of approximately 33% in bitcoins and 32% in TRX tokens. The exchange's coin, HTX HT, accounts for about 14%, while a Sun-backed token, stUSDT, represents 12% of the reserves. The security company BlockSec announced that HTX has successfully recovered $8 million of the stolen funds, but hackers still maintain control over $30 million acquired during the November breach.

 HTX Exchange Among Top 20 Crypto Exchanges

HTX Exchange, also known as Huobi, ranks among the top 20 crypto exchanges with an average daily trading volume of $1.6 billion, according to CoinMarketCap. However, the recent capital outflow highlights growing investor concerns about security issues, especially in light of recent collapses of high-profile exchanges, such as last year's fall of the FTX platform.

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