Justin Sun confirms $8M HTX exploit; attacker offered 5% bounty and a security advisor role to return funds Justin Sun confirms $8M HTX exploit; attacker offered 5% bounty and a security advisor role to return funds
HTX extended its offer for a seven-day grace period before turning to law enforcement.
2 min read
Updated: Sep. 25, 2023 at 5:49 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Crypto entrepreneur and HTX global adviser Justin Sun confirmed today that the exchange was compromised inย an exploit that resulted in a loss of $7.9 million.
Web3 security firm Cyvers first reported the hack, noting that its system detected a suspicious transaction involving the exchange on Sept. 24. Itย identified an externally owned account (EOA) that received 5,000 ETH, worth $7.9 million, from the exchange’s global wallet.
Cyvers claimed it received no response from HTX when contacted.
HTX confirms hack
According to Sun, the exchange detected the hack immediately after it occurred and took swift action to prevent losses. He added that the platform had offered 5% of the stolen amount ($400,000 ) as a white hat reward to encourage the hacker to return the stolen funds.
Additionally, the hacker would be hired as a security white hat advisor for HTX if they returned the stolen funds. If the exploiter failed to return the fund within seven days, the exchange threatened to hand over the case “to law enforcement authorities for further action and to prosecute the hacker.”
Sun assured the exchange’s users that their assets were safe as the stolen amount “represents a relatively small sum in comparison to the $3 billion worth of assets held by our users.” He added that the stolen fund also “amounts to just two weeks’ revenue for the HTX platform.”
The exchange sent on-chain messages of its offer to the hacker’s address. The message reads:
“We have confirmed your true identity. Please return the funds to 0x18709E89BD403F470088aBDAcEbE86CC60Dda12e. We will provide you with a 5% white hat bonus. This offer is valid for 7 days, and the deadline is October 2, 2023. If you do not return the funds before the deadline, we will ask the judiciary to intervene.”
Meanwhile, Binance CEO Changpeng Zhao said his platform would cooperate with HTX, saying, “our security team will help in tracking hacker funds in all cases where we can.”
Mentioned in this article
Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
Editor Editor 
Jacob Oliver
Jacob Oliver is a recovering academic and English teacher turned crypto journalist and web3 writer. He holds a Ph.D. from the University of Washington.
In this article
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
HTX
Huobi, a virtual asset exchange, launched a revised branding strategy on September 13, 2023, where “Huobi” will be rebranded as “HTX.” “H” stands for Huobi, “T” represents TRON with a commitment to being all in TRON, and “X” stands for the exchange.
Justin Sun has carved a name for himself as a leading figure in the blockchain sector.
