In the aftermath of an audacious breach of Huobi, now rebranded as HTX Global, resulting in the pilferage of $8 million worth of the Ethereum (ETH), the eminent advisor of the firm, Justin Sun, has unveiled a series of the novel initiatives aimed at mitigating the crisis. The crypto sphere was jolt awake on September 25, 2023, to reports of HTX grappling with the loss of 5,000 ETH due to a malevolent intrusion.
Huobi’s SAFU Fund
In response to the tumultuous aftermath of the Huobi security breach, Sun HTX assured the community of users that the platform steadfastly places the sanctity of user assets at the pinnacle of its priorities. Furthermore, he disclosed the plans for a forthcoming Twitter Space event scheduled for September 26, 2023, dedicated to a comprehensive discourse on the exchange’s security protocols. Additionally, the TRON Founder heralded the inauguration of a SAFU fund, designed to perpetually fortify the platform against unforeseen contingencies. Sun underscored the impregnability of the exchange’s multifaceted backup and multi-signature cold wallet system, pledging an unwavering commitment to ensuring 100% security.
Earlier, CoinGape had documented two separate crypto security breaches, one involving a staggering $40 million in Bitcoin holdings allegedly within the grasp of the Lazarus Group, a North Korean cyber threat actor. The other incident pertained to an impending jeopardy to the crypto assets worth $200 million linked to the Mixin Network following a malevolent assault.
The Hacker’s Proposal
Meanwhile, the enigmatic HTX Global hackers remain reticent in response to the Justin Sun audacious offer of a 5% incentive derived from the ill-gotten gains. Nevertheless, a deadline of one week looms over their decision to return the purloined assets. Sun has issued a stark warning, suggesting that legal recourse will be pursue should the funds not be restore within the stipulated timeframe.