Crypto exchange Huobi loses $7.9 million in ETH

Crypto exchange Huobi loses $7.9 million in ETH

The cryptocurrency exchange Huobi, formerly known as HTX, has lost $7.9 million in value of ETH to a hacker less than a month after the company's rebranding.

HTX did not immediately respond to Decrypt's request for comment.

Blockchain investigators, including PeckShield, caught wind of the hack ahead of time, by identifying a suspicious outbound 4,999 ETH transaction from the exchange on Sunday at about 10:00 a.m. UST. The addresses of the hacker are identified below and here.

Sun said that the losses represent a'relatively small' sum of the $3 billion in assets currently held by users. revenue for the HTX platform, he said.

DefiLlama said HTX currently has $2.7 billion worth assets on hand, a figure that's remained relatively stable since November of last year. With about half of this value in Tron's native TRX token, Bitcoin is 27.49% the largest holding.

Although the share of lost funds is tiny, the exchange is trying to get back its money. HTX said in a message sent over the blockchain that the hacker's true identity had already been unmasked and threatening to 'involve law enforcement' if funds were not returned within a week.

Binance's CEO, Changpeng Zhao, said Binance's security team would assist in tracking the hacker's funds.

Crypto exchange CoinEX has proposed a bug bounty for the first time, announcing it had lost an estimated $54 million in assets to hackers connected with North Korea's Lazarus Group.