HTX Crypto Exchange Fully Restores Bitcoin Deposits and Withdrawals After Hacking Attack
On the heels of a recent hacking attack, HTX, the cryptocurrency exchange associated with digital-asset entrepreneur Justin Sun, has successfully reinstated Bitcoin deposits and withdrawals, Sun confirmed.
Reinstatement of Major Currencies
Sun declared on X, a platform previously known as Twitter, that “As of now, all major currencies including BTC, ETH, TRX, and USDT are available for complete deposit and withdrawal functionality on HTX.” This news comes as a relief to many users who were concerned about the security of their assets on the exchange.
Hacking Incidents
HTX and Poloniex, another exchange backed by Sun, were both targeted in separate hacking incidents that reportedly resulted in a loss of over $110 million worth of cryptocurrencies. Sun acknowledged the HTX hack on X last week, while an HTX spokesperson indicated that around $30 million worth of cryptocurrencies were stolen from the exchange wallet.
Rebranding Announcement
In a surprising turn of events, Sun had just announced the rebranding of Huobi exchange to HTX in Singapore on September 13. The timing of the hacking incidents following this rebranding has raised concerns among the crypto community about the security measures in place at HTX and Poloniex.
Restoring Trust
The swift action taken by HTX to fully reinstate Bitcoin deposits and withdrawals is seen as a step in the right direction towards restoring trust and confidence in the exchange. Sun and his team are likely to face increased scrutiny regarding the security protocols and measures in place to prevent future hacking incidents.
Ongoing Developments
The incidents at HTX and Poloniex have sent shockwaves through the cryptocurrency industry, with many users and stakeholders closely monitoring the situation and waiting for updates. Sun’s reassurance about the availability of major currencies for deposits and withdrawals is a positive sign, but the long-term impact of the hacking attacks on the reputation and operations of both exchanges remains to be seen.
Conclusion
The recent hacking attack on HTX and the subsequent reinstatement of Bitcoin deposits and withdrawals have raised concerns about the security of digital asset exchanges. It is evident that the cryptocurrency industry needs to prioritize robust security measures to safeguard the interests of investors and users. The ongoing developments at HTX and Poloniex are being closely watched as the industry grapples with the aftermath of the hacking incidents.
I have been featured in numerous publications, both online and offline, and am a regular speaker at industry events. I am also the founder of Crypto University, an online educational platform that helps people learn about cryptocurrencies and blockchain technology. In addition to my writing and teaching career, I am also an active investor in the cryptocurrency space. I have made investments in some of the leading projects in the space, and my portfolio has outperformed the market by a wide margin