HTX Launches SAFU Fund After $7.9 mn Ethereum Loss
CryptoSlate has requested additional commentary on the fund’s composition, but HTX has not yet responded. Sun, in a September 26 post on X, stated that the fund will cover losses due to platform security issues and has implemented real-time monitoring mechanisms.
HTX, a cryptocurrency exchange, has confirmed a hack that resulted in a $7.9 million Ethereum loss. The exchange offered 5% of the stolen amount worth $400,000 as a reward to encourage the hacker to return the funds, with the hacker being hired as a security white hat advisor if the funds are returned. Sun reiterated HTX’s commitment to user asset security, stating that their multi-backup, multi-signature cold wallet system ensures 100% security.
Data from DeFillama shows that HTX holds about $2.77 billion worth of digital assets, including Tron (TRX), Bitcoin (BTC), Ethereum, and others.
(With inputs from Shikha Singh)
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