#HTX #CryptoExchange #CryptoSecurity #CryptoWithdrawals #DeFiLlama #CryptoHacks #HecoChain #JustinSun
The cryptocurrency exchange HTX, formerly known as Huobi, has witnessed a significant drop in trust from its users following several cyber-attacks. The digital platform suffered a severe security breach in the latter part of 2021, which led to substantive asset losses and compelled HTX to temporarily suspend its operations. According to data from DefiLlama, over $200 million exited the platform between November 22 and December 10. This period coincides with the time when Heco Chain and HTX experienced a hack, leading to a hefty loss of over $100 million in multiple assets.
The exchange managed to resume operations on November 26, but it did nothing to alleviate the unease amongst its users. Many of them continued to withdraw their funds, driven by the memory of a similar incident two months prior where the exchange was exploited resulting in an approximate loss of $8 million. This led to the questioning of the exchange’s security architecture, despite Binance’s security team’s intervention to aid in investigating and retrieving the lost funds. Given these circumstances, it’s hardly surprising many users are choosing to withdraw funds from HTX to avoid potential future losses.
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