What do you know about the hack that Huobi Global suffered?
Little volatility has been observed in the Bitcoin price action in the last 24 hours if we take into account that the percentage variation is at the time of writing at 0.8%.
However, in my opinion, this low volatility did not present a major setback after learning that the prestigious cryptocurrency exchange platform Huobi Global suffered a hacking worth USD 7.9 million.
According to Tom Blackstone, "Huobi Global's HTX cryptocurrency exchange was hacked on September 24, according to a report from blockchain analytics platform Cyvers. A total of USD 7.9 million in cryptocurrencies have been drained in the attack."
According to Blackstone, "A well-known Huobi hot wallet posted a message in Chinese addressed to the attacker. According to the message, the exchange knows the identity of the attacker and has offered to keep 5% of the drained funds as a 'white hat bonus,' but only if the attacker returns the remaining 95%"
Huobi Global investor Justin Sun, "stated that users' funds are safe and that the exchange is now operating normally. "HTX has fully covered the losses caused by the attack and has successfully resolved all related issues."
SOURCES CONSULTED
Cointelegraph. Huobi Global hacked for $7.9M: Report. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph
I don't think 400 ETH worth $8 million can cause a significant drop in price and certainly not to BTC. Well, I think HTX has come under the spotlight recently for some bizarre reasons including the change of name from Huobi and I'll exercise caution to be honest. For now, I've paused my transactions on HTX and instead using more of Bitget for my transactions while I await on them to come clean