Cryptocurrency exchange HTX, previously known as Huobi, has broken its silence regarding the unexpected halt in its operations, reassuring users that normal service will recommence by the end of the day. The temporary suspension came on the heels of a security breach that threatened the platform’s integrity and customers’ assets.
The company has declared that countermeasures have been effectively implemented to mitigate the repercussions of the recent exploit, which led to an immediate freeze of withdrawal and deposit functions to secure users’ funds and thwart further unauthorized transactions. In a statement aimed at assuaging user concerns, HTX articulated its ongoing efforts to secure platform operations:
“In the wake of the incident, HTX has applied all of its resources to address the security challenge head-on. Our commitment to safeguarding our users’ assets remains unshakeable, and we look forward to restoring full functionality within the next 24 hours. An exact timeline for the resumption of services will be shared imminently.”
The company took a confident stance, reinforcing its pledge to indemnify affected users and emphasized stringent measures to ensure such an attack remains an aberration:
“Huobi HTX has responded swiftly and decisively to the attack. We stand by our promise to fully reimburse our users for any losses incurred due to this regrettable incident. The security of our customers’ funds is our top priority, and we are dedicated to maintaining a high standard of trust and reliability.”
Further underlining the minor impact of the breach, HTX reassured stakeholders that the stolen assets represent a trifling fraction of its reserves, thus averting any significant disruption to its operational capabilities:
“The loss sustained by Huobi HTX is minimal compared to our overall capital reserves. We wish to assure our users that the incident will not affect the seamless operation of our platform, and we invite our customers to continue trading with the utmost confidence.”
The hack that targeted HTX occurred on November 22, ruffling the crypto community as the blockchain protocol Heco Chain suffered an attack which siphoned approximately $100 million across multiple assets. An initial probe by on-chain sleuths Cyvers Alerts revealed the magnitude of the incursion, estimating the losses at about $23 million for HTX and a staggering $85 million for Heco Chain.
HTX’s response follows a precedent set by a previous incident in October that saw an $8 million loss and approximately 500 Ethereum disappear from the exchange’s coffers. That situation was promptly addressed, with HTX fully compensating users for their losses.
As HTX looks to the future, its determination to erect robust defenses against cyber threats is palpable. The exchange restates its enduring dedication to user security and reaffirms that customer welfare shall always remain its paramount concern.
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