According to HTX adviser and Tron creator Justin Sun, HTX, formerly Huobi, was hacked with a total loss of 500 ether (ETH) valued at almost $8 million.
On Sunday, the occurrence happened and was quickly recognised. On social media network X (formerly known as Twitter), Sun said that HTX has fully compensated the losses and that the funds are secure.
According to Arkham data, the compromised wallet looks to be one of HTX’s hot wallets because it has received about $500 million in deposits from Binance since its founding in March.
“Compared to the $3 billion in assets held by our users, $8 million is a paltry sum. Additionally, it only represents two weeks’ worth of income for the HTX platform, according to Sun’s post on X.
“As a result, all money are safe, and trading has continued as usual. All problems were swiftly addressed and fixed, and the platform was quickly returned to normal.
Sun went on to state that HTX is prepared to offer the hacker a $400,000 bug reward in exchange for returning the money that was taken. He then sweetened the deal by saying that HTX will employ the hacker as a security white hat advisor.
According to CoinMarketCap, the native token of the exchange, HT token, is now down 1.24% over the last 24 hours and trading at $2.43.