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HTX Global faces $7.9M loss in major security breach

Security concerns rise as Binance law enforcement access offered for $10,000

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TL;DR

  • HTX Global faced a significant loss of $7.9 million, as detected by Theo CyversAlerts.
  • Huobi Global’s involvement in a transaction with HTX Global remains mysterious due to a lack of communication.
  • Etherscan links an IP address to the breach, revealing a potential hacker’s identity.

HTX Global, a renowned cryptocurrency exchange, reported a loss of $7.9 million. The vigilant monitoring system of Theo CyversAlerts first flagged this incident. Consequently, concerns about the safety of bitcoin exchanges are now more pronounced than ever.

Huobi Global, another major player in the Bitcoin industry, was involved in a transaction with HTX Global. However, both companies have remained silent despite multiple attempts at communication. The heart of the matter lies in a $7.9 million transfer from Huobi Global’s hot wallet, which contained 5,000 ether.

Moreover, CyversAlerts’ deep dive into HTX Global’s support website unveiled some unsettling details. The company had made an unexpected hot wallet movement. This move immediately raised eyebrows and warranted further investigation. It was later confirmed that a breach in one of HTX Global’s hot wallets significantly led to this staggering loss. According to Etherscan, the IP address linked to this breach is [insert hacker address here].

Adding to the intrigue, Huobi Global’s subsequent actions were puzzling. Upon checking Etherscan, the hacker discovered that the exchange proposed a 5% white hat incentive for the breach. The details of this proposal, mostly in Chinese, can be found in a transaction on Etherscan at [transaction link]. However, neither Huobi nor HTX has issued any public statements regarding this incident.

This isn’t the first time CyversAlerts has been at the forefront of such revelations. Two weeks ago, they exposed a security breach at CoinEx, where a whopping $70 million was lost. CyversAlerts presented evidence of a series of dubious transactions in CoinEx’s Ethereum hot wallet. These transactions, spanning Ethereum, TRON, and Polygon, resulted in a loss of approximately $27.8 million in cryptocurrencies.

Besides the immediate financial implications, the ripple effects of these breaches are evident in the market dynamics. HT, the native token of HTX, experienced a 1.21% price dip and is currently trading at $2.44.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Mutuma Maxwell

Maxwell especially enjoys penning pieces about blockchain and cryptocurrency. He started his venture into blogging in 2020, later focusing on the world of cryptocurrencies. His life's work is to introduce the concept of decentralization to people worldwide.

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