HTX Exchange was hacked 2023
HTX(Huobi) – is a Seychelles-based cryptocurrency exchange. Founded in China, the company now has offices in Hong Kong, South Korea, Japan and the United States. In August 2018 it became a publicly listed Hong Kong company.
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Guide to Dealing with a Hacked Hot Wallet on Huobi (HTX)
In a recent security breach incident, the cryptocurrency exchange Huobi, now rebranded as HTX, experienced a breach in one of its hot wallets, resulting in the theft of 5,000 Ethereum (ETH), equivalent to $7.9 million. This guide aims to provide you with steps to take if you ever find yourself in a situation where your hot wallet on Huobi has been compromised.
1. Confirm the Breach
The first step is to confirm that your wallet has indeed been compromised. In this case, Cyvers Alerts, a blockchain security platform, raised a red flag and detected a suspicious transaction. If you notice unauthorized transactions or suspect unusual activity in your Huobi hot wallet, it’s essential to act promptly.
🚨Red Code🚨Yesterday, our ML-powered system detected a suspicious transaction involving @HuobiGlobal and @HTX_Global.
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) September 25, 2023
Despite our attempts to reach out, we received no response. An EOA received 5K $ETH $7.9M from @HuobiGlobal's hot wallet.
🔍 This morning, we spotted… pic.twitter.com/3oqHhAVi8P
2. Secure Your Account
Immediately take steps to secure your Huobi account:
- Change your password: Update your password with a strong, unique combination of letters, numbers, and special characters.
- Enable two-factor authentication (2FA): Activate 2FA to add an extra layer of security to your account.
- Log out all devices: Force log out from all devices connected to your account to prevent further unauthorized access.
3. Contact Huobi Support
Reach out to Huobi’s customer support as soon as possible. They are experienced in handling security breaches and can guide you through the necessary steps to investigate the issue and potentially recover your funds.
- Provide them with all the relevant information about the breach, including transaction details, dates, and any suspicious addresses or activities.
4. Monitor the Situation
Stay vigilant and keep an eye on your account activity. Check for any additional unauthorized transactions or suspicious activities. Continue to communicate with Huobi’s support team for updates on the investigation.
5. Check for Compensation
In some cases, exchanges may offer compensation to victims of security breaches. Huobi, for instance, offered a 5% reward to the hacker in this situation. While this might seem unusual, it’s a practice known as a “White Hat” reward, where hackers who expose vulnerabilities are rewarded for their efforts.
6. Consider Legal Action
If the situation does not resolve in your favor and you believe your funds were stolen due to negligence on the exchange’s part, consult legal advice. Laws and regulations regarding cryptocurrency vary by jurisdiction, so it’s essential to understand your rights and options.
7. Educate Yourself on Security
To prevent future breaches, educate yourself on cryptocurrency security best practices. Learn about the risks associated with hot wallets and consider using more secure storage options, like cold wallets or hardware wallets, for larger sums of cryptocurrency.
8. Stay Informed
Cryptocurrency markets are susceptible to security breaches, and new threats can emerge at any time. Stay informed about the latest security developments and be cautious when dealing with your digital assets.
9. Consider Moving Funds
Depending on the outcome of the investigation and your overall confidence in Huobi’s security measures, you may choose to move your funds to a different exchange or wallet with a strong security track record.
10. Report to Authorities
If you believe you have been a victim of a cybercrime, consider reporting the incident to relevant authorities or cybersecurity organizations. This can help in tracking down the perpetrators and preventing future attacks.
Remember that the cryptocurrency space is still relatively young, and security breaches can occur. Being proactive, staying informed, and taking appropriate measures can help protect your assets in the ever-evolving world of cryptocurrencies.
If you suspect a crypto exchange you use has been hacked, take immediate action. Secure your account by changing your password, enabling two-factor authentication (2FA), and logging out of all devices. Contact the exchange’s customer support to report the issue.
When contacting customer support, provide all relevant information, including your account details, any suspicious transactions, dates, and any details about the suspected breach. Be as detailed as possible to aid in their investigation.
The possibility of recovering stolen funds depends on several factors, including the exchange’s security measures and the circumstances of the hack. Some exchanges may offer compensation, but there are no guarantees. Promptly reporting the hack to the exchange is crucial.
Yes, reporting a crypto exchange hack to relevant authorities or law enforcement agencies is advisable. This can help in tracking down the perpetrators and preventing future attacks. Additionally, it can protect your rights in legal matters.
To enhance your crypto security:
- Use strong, unique passwords for your exchange accounts.
- Enable 2FA wherever possible.
- Consider using hardware wallets or cold storage for long-term storage of cryptocurrencies.
- Stay informed about the latest security practices and threats in the crypto space.
- Be cautious of phishing attempts and only use trusted sources and links.
It depends on the actions taken by the exchange to address the breach and improve security. If the exchange promptly acknowledges and resolves the issue, enhances security measures, and communicates transparently, it may still be safe to use. However, consider moving your funds if you have doubts.
A “White Hat” hacker reward is a practice where exchanges offer a reward to hackers who responsibly disclose vulnerabilities or security flaws rather than exploiting them maliciously. It’s not a cause for concern but rather a way to incentivize ethical hacking and improve security.
To stay informed about the security status of your chosen exchange, follow their official social media accounts, subscribe to their newsletters, and regularly check their website for security updates, policy changes, and announcements regarding breaches or security enhancements.
Depending on the circumstances and your level of confidence in the hacked exchange’s security measures, you may consider moving your funds to a different exchange with a strong security track record. Evaluate your options carefully and choose an exchange that aligns with your security preferences.
You can learn more about cryptocurrency security practices by researching reputable sources, reading security guides, and joining online communities or forums dedicated to crypto security. Staying informed and continuously educating yourself is essential in the crypto space.
