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HTX Resumes Operations After Hack, Pledges Full Compensation!

  • HTX (formerly Huobi) has announced the resumption of services following a temporary shutdown due to a security breach.
  • The crypto exchange assures users of full compensation for losses incurred from the hack.
  • “Our commitment to user fund safety remains unwavering,” says HTX in a statement.

Following a significant hack, cryptocurrency exchange HTX has successfully managed the crisis and is set to resume operations, ensuring user fund safety and compensation.

HTX Announces Operational Resumption

HTX, one of the world’s prominent crypto exchanges, has confirmed the resumption of its withdrawal and deposit services. While the specific time for the resumption wasn’t initially provided, the exchange reassured users of its readiness to restart operations within 24 hours. This decision follows the successful handling of a recent security breach that prompted a temporary halt in services.

Addressing the Security Breach and User Compensation

The recent hack at HTX, which resulted in a significant loss of funds, has been “appropriately handled,” according to the exchange. HTX has pledged to fully compensate its users for the losses caused by this attack, emphasizing the safety of user funds. The platform reassured its community that the lost amount was relatively small and would not impact the exchange’s normal operations.

Details of the HTX and Heco Chain Hack

On November 22, HTX and Heco Chain fell victim to a major exploit, resulting in a loss of over $100 million across various assets. The breach was initially detected by on-chain investigator Cyvers Alerts. The breakdown of the losses showed that HTX lost approximately $23 million, while Heco Chain’s losses amounted to over $85 million. HTX’s advisor, Justin Sun, publicly acknowledged the incident and detailed the company’s response plan.

HTX’s Commitment to Security and Customer Well-being

Following the hack, HTX has reinforced its commitment to enhancing security measures to prevent future incidents. The exchange’s focus remains firmly on its customers’ well-being, ensuring that all affected users are compensated and that their funds are secure. This incident follows an earlier $8 million attack on HTX in October, from which the exchange successfully recovered and compensated all losses.

Conclusion

HTX’s swift response to the hacking incident, coupled with its commitment to user compensation and enhanced security measures, demonstrates its dedication to maintaining a secure and trustworthy platform for its users. As HTX resumes operations, the crypto community will closely watch its recovery and efforts to bolster security in the ever-evolving digital currency landscape.

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Sheila Belson
Sheila Belsonhttps://en.coinotag.com
Sheila Belson is a 20-year-old financial content editor who ventured into the realm of cryptocurrencies in 2023. Enthralled by the innovative world of non-fungible tokens (NFTs), she harbours a profound affection for Ethereum. With a sharp eye for detail, Sheila skillfully navigates the dynamic crypto landscape, continuously seeking to enrich her understanding and share her passion through engaging and insightful content.
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