Crypto Exchange HTX Recovers from Hacking Incident, Reinstates Bitcoin Operations

HTX, a crypto exchange linked to digital asset entrepreneur Justin Sun, has successfully reinstated its Bitcoin deposit and withdrawal services following a security breach. This move marks a critical step in the platform’s recovery from a hacking incident that temporarily disrupted its operations.

Justin Sun, a prominent figure in the digital asset space, confirmed that HTX has resumed full functionality for major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), TRON (TRX), and Tether (USDT). This announcement is a relief to users and investors who were impacted by the outage caused by the hacking event.

The security issues at HTX were part of a broader pattern of cyberattacks targeting cryptocurrency exchanges this month. Both HTX and Poloniex, another exchange associated with Sun, suffered hacks, leading to significant financial losses. The combined value of cryptocurrencies stolen from these platforms is estimated to be over $110 million.

Sun first brought attention to the HTX hack on a social media platform last week. Concurrently, an HTX spokesperson reported that the exchange lost about $30 million worth of cryptocurrencies from its exchange wallet due to the breach. This incident highlighted the ongoing challenges and risks associated with digital asset security.

This recovery comes on the heels of Sun’s announcement in September, where he unveiled the rebranding of the Huobi exchange to HTX at an event in Singapore. The reinstatement of Bitcoin transactions at HTX is a crucial step in restoring trust and stability in the crypto exchange’s operations, signaling a positive direction for the platform’s future.