HTX Follows in FTX's Footsteps

GM Readers. Your daily dose of BitDegree insights is ready 👀

Today's selection:

• 👣HTX Follows The FTX Path?
• 👀Do You See What I See?
• 🧩️Thursday Quiz
• 📰Bite-Sized News
• 👌Selected Meme of The Day

HTX FOLLOWS IN THE FOOTSTEPS OF FTX?

One of HTX's (formerly known as Huobi) hot wallets was compromised shortly after its rebranding.

The perpetrator managed to seize $7.9 million of the exchange's funds.

Justin Sun, the founder of Tron and a key shareholder in HTX, confirmed that HTX Global had experienced an exploit involving approximately 5,000 ETH. However, he assured that "all funds are secure, and trading operations have continued as usual."

Cyvers Alerts reported that the HTX administration offered the hacker a white hat status. This term refers to experts who test protocols for vulnerabilities.

HTX posted a comment on Etherscan, appealing to the hacker to return the stolen funds. In exchange, the company offered a bonus amounting to 5% of the total loss if the assets would be returned within a seven-day timeframe.

The hacker has until October 2nd to return all stolen assets. If they comply, they can expect a reward of 250 ETH, which equates to approximately $393,000, as opposed to the stolen $7.9 million.

For those who might have missed it, the platform recently announced its rebranding. The new exchange name aimed to emphasize its close ties with the TRON ecosystem. Yet, it's quite uncanny how it suddenly began resembling the notorious FTX exchange!

TL;DR: Huobi just underwent their rebranding procedures and changed their name to HTX. Shortly after, the exchange got hit by a hacker. The perpetrator managed to seize $7.9 million of the exchange's funds.

WHAT DO YOU SEE?

The internet can definitely be a fun place. Recently, this image has been surfacing all over crypto online spaces:

Did you have to take another look? Do you see a woman enjoying a stroll in the park? Or do you see that sneaky Bitcoin waiting to be noticed? Well, you're not hallucinating in either case.

BITE-SIZED NEWS

• MicroStrategy Deepens Investment in Bitcoin with $147M Acquisition. MicroStrategy bags another batch of Bitcoin.
• Mitsubishi UFJ Bank and Binance Team Up for Stablecoin Expansion in Japan. Almost two months after returning to Japan, Binance is gearing up to explore the issuance of stablecoins..
• SEC Objects to Celsius Network's Restructuring Plan Over Links with Coinbase. SEC steps in the way of Celsius' attempt to proceed with its restructuring plan.

Sounds interesting? Find more crypto news on our website: 

SELECTED MEME OF THE DAY