HTX Crypto: Scam or Coincidence
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Shortly after recent major events, another incident hit the crypto world. Canadian cryptocurrency exchange HTX fell victim to a significant hacker attack. This event caused a cascade of unpleasant consequences.
Analysts reveal that the hacker attack was long-planned and involved breaching several levels of HTX’s defense. It’s worth mentioning that HTX employs a level of security compliant with all standards and laws, similar to many exchanges in America and Europe. However, due to HTX stock popularity and assets, it was chosen as the target.
As a result of the hack, 5,000 Ethereum were lost (The financial lesion is estimated at $8,000,000). Quite a substantial hacker breaking indeed. Transaction analysis suggests that hackers have already dispersed the funds across multiple wallet addresses, thereby diversifying their assets.
Cyvers Alerts – a blockchain security alert platform, was the first to point out the hacker attack even before Justin Sun became aware or so it seems. The community had many questions regarding the transparency of the trading exchange platform. There were absolutely no warnings about the hacking attack until Cyvers Alerts intervened. This surely raises eyebrows.
Trading Exchange Platform Hacker Attack
Justin Sun did not anticipate such a backlash and criticisms concerning transparency and safety of the exchange platform. Obviously, after such a resonant event, he had to take actions, and here are some of them:
Comparing the losses to a two-week revenue report.
Justin showcased that against the backdrop of his exchange’s revenue, this hacker attack is negligible and won’t dent HTX’s assets stability.
Promises to enhance security measures
HTX crypto declared their readiness to enhance security measures, adopting the latest methods of protection against hacker attacks, though an obvious question arises – “Why wasn’t this done earlier?”
Covering all losses
The exchange assures that it will cover all the platform’s losses and will reintegrate assets to fill all the “holes”.
HTX Crypto Meets HTX Stock
What happened can be called a storm. The exchange covered losses that amounted to only two weeks of platform income. User assets are in SAFU state, the platform is operating normally.
And HTX stock caught in this storm and began to fall apart into small pieces. But Justin Sun did not stand aside. He took a strong decision by confirming the status of the Safe Assets Fund for Users (SAFU). The hack struck like lightning. But the cryptocurrency arena has demonstrated solid fundamentals. Justin Sun reassured the people and the position of the platform remained firm. The interruption in trade activities was a preventative measure aimed at keeping user assets secure. After that, everyone saw that Justin was changing his approach to a more client-oriented one.
In fact, this confirmation was a serious step for the platform at such a time. Many users received the confirmation of SAFU status extremely positively. Some still showed little hope that the situation could be resolved and the platform would restore its former reputation. True, analysts are still quite skeptical about this, saying that any such hack leaves an irreparable mark on the history of the platform.