According to Lookonchain, a blockchain analytics firm, all assets stolen from HTX Global, formerly known as Huobi, during a recent hack have been returned by the perpetrator or group responsible. The returned amount totals 4,999 Ethereum (ETH), valued at $8.2 million.
Current Status of HTX Global Hack
A major incident occurred last Monday when an unidentified hacker or group of hackers exploited a security vulnerability and attacked the cryptocurrency exchange, resulting in a substantial theft of Ethereum.
Immediately following the attack, Justin Sun, the founder of TRON and an advisor to HTX, reassured the crypto community that the losses incurred from the attack had been covered. In a subsequent statement, Sun claimed that all issues related to the hack had been resolved.
According to Sun, the stolen funds only represent a small portion of HTX Global’s total assets, which amount to $3 billion. Additionally, Sun announced that a 5% Whitehat reward, equivalent to $400,000, would be given to the hacker upon returning all stolen funds. Furthermore, if the funds were voluntarily returned promptly, the hacker would be offered a position as a security Whitehat advisor.
Justin Sun Dispels Bankruptcy Fears
It is worth noting that the HTX hack occurred a few weeks after rumors of the exchange’s bankruptcy began circulating. During these events, Mishaboar, known for advocating Dogecoin (DOGE), advised DOGE investors to withdraw their assets from HTX. The main concern surrounding HTX is believed to be the allegations of shadowy Proof of Reserves.
These types of concepts often serve as indicators of a protocol’s financial health. Mishaboar argues that such reserve proofs can be misleading and may not transparently demonstrate an exchange’s obligations.
Sun addressed the issue to alleviate user concerns and advised disregarding the rumors. Once the full repayment by the hacker has been completed, customers of the exchange may find some relief and renewed confidence in the midst of ongoing discussions about the exchange and their investments.
