Crypto exchange HTX had $258M withdrawn following an exploit.

#JustinSun #HTXExchange #CryptoExploit #CryptoOutflows #Huobi #Bitcoin #Tron #DefiLlama

The cryptocurrency exchange HTX, associated with Justin Sun, saw a significant outflow of $258 million following a $30 million exploit in November. This has raised concerns among crypto investors causing them to shift their assets. The exploit that happened on November 22nd caused the exchange to temporarily pause its services. The pause and the loss have evidently had a lasting impact on the investor’s trust in the exchange.

Data from DefiLlama reveals that from November 25th, the day HTX resumed its operations to December 10th, the exchange saw a whopping $258 million in net outflows. DefiLlama also reveals that HTX’s reserves consisted of 32.3% Bitcoin (BTC) and 31.8% Tron (TRX). TRX is the native currency of the Tron network, a blockchain venture launched by Justin Sun in 2017. Such a significant outflow highlights the extent of damage caused by the exploit to HTX’s reputation in the crypto market.

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