Huobi Global was hacked for $7.9M


After suffering a cyberattack, the HTX cryptocurrency exchange claims to have identified the perpetrator.

According to a study published by blockchain analytics company Cyvers on September 24, the Huobi Global HTX cryptocurrency exchange was compromised. The hack has drained $7.9 million in cryptocurrency.

The hacker received a message in Chinese from a well-known Huobi hot wallet. The letter claims that the exchange has identified the hacker responsible for the theft and is willing to let them retain 5% of the stolen monies as a “white-hat bonus” if they return the other 95%.

The Huobi hot wallet, thought to be valued around $7.9 million, was sent to an unknown recipient on September 24 at 10:00 am UTC. Huobi’s separate wallet spoke with the hacker the next morning, sending a message in Chinese.

The assault was reported by Cyvers on September 25. Blockchain analytics provider Arkham Intelligence has confirmed that the sending wallet is a Huobi hot wallet. Cyvers says that the fund that sent the message is shown on a Huobi help page as being linked to the exchange.

An investor in Huobi Global named Justin Sun revealed the attack in the morning of September 25. He wrote, “HTX @HTX_Global has lost 5,000 #Eth ($8 million USD) due to a hacker attack.” Sun said that all customer monies are secure and the marketplace has returned to regular operation. He said, “HTX has fully covered the losses caused by the attack and has successfully resolved all issues related thereto.”

It is widely assumed that the North Korean-affiliated Lazarus Group is responsible for a string of cyberattacks on cryptocurrency exchanges in 2023. The Bitcoins they’ve stolen in hacks this year amount to $40 million.

Also Read: MicroStrategy Sells $147.3 Million in Own Stock to Invest in Bitcoin

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