Benzinga - HTX exchange, associated with industry stalwart Justin Sun, has witnessed a $258 million net outflow following its return to operations after a significant hack.
What Happened: As per a Bloomberg report on Sunday, the HTX exchange has seen a departure of funds between November 25 and December 10, following its reopening after a massive security breach.
According to data obtained from DefiLlama, the large outflow suggests that the security incident last month may have unnerved some clients, prompting them to withdraw their funds.
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HTX had previously disclosed a loss of $30 million in crypto tokens due to the attack, which led to a temporary halt in deposits and withdrawals on the platform.
Why It Matters: HTX currently ranks as the 16th largest cryptocurrency exchange in terms of daily trade volume.
In the aftermath of HTX resuming operations on November 25, Sun pledged full reimbursement for users impacted by the hot wallet breach and indicated that an investigation into the incident is in progress.
HTX and Heco Cross-Chain Bridge Undergo Hacker Attack. HTX Will Fully Compensate for HTX's hot wallet Losses. Deposits and Withdrawals Temporarily Suspended. All Funds in HTX Are Secure, and the Community Can Rest Assured. We are investigating the specific reasons for the hacker…— H.E. Justin Sun 孙宇晨 (@justinsuntron) November 22, 2023
Price Action: At the time of writing, Bitcoin (CRYPTO: BTC) was trading at $42,289.80, down 3.71% in the last 24 hours, according to Benzinga Pro.
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