Accéder au contenu principal

CZ To Help HTX Track Stolen Funds, Appoints Binance Security Team to Investigate

HTX, formerly Huobi Global, was exploited recently for almost $8 million. Following the incident, Binance CEO Changpeng Zhao (CZ) has offered his assistance in tracking the stolen funds.

Meanwhile, the exchange has tried to reduce the impact of the exploits on the network. It proposed 5% of the total stolen amount, worth approximately $400,000, as a ‘white-hat bonus,’ for the return of the funds.  

Binance CEO Promised To Track The Stolen Funds

A blockchain analytics firm, Cyvers, highlighted the attack on the HTX crypto exchange on September 24. According to the discovery, the hacker drained about 5,000 Ether (ETH) from one of the exchange’s hot wallets.

Also, the founder of Tron, Justin Sun, disclosed the exploit on the crypto exchange. However, he mentioned that the exchange had already covered the lost funds. Also, Sun reassured all customers about the safety of users’ assets on the exchange.

After the attack, Binance CEO CZ offered to help recover the stolen funds. CZ revealed his promise by responding to Justin Sun’s post on the X platform. CZ stated: “Our security team will help in tracking hacker funds in all cases where we can.”

The attack on the platform is coming just a week following its rebranding from Huobi to HTX. This is why Binance CEO teased Justin Sun on renaming the exchange before declaring his assistance over the exchange’s hack. CZ mentioned the similarity between Sun’s newly rebranded HTX and Sam Bankman-Fried’s FTX crypto exchange. 

Both exchanges have suffered huge losses, but while HTX faced an exploit, FTX was alleged to be a scam.

The daily chart shows the crypto market’s total volume currently stands at $1.026 trillion. | Source: TradingView.com

HTX Offers 5% White-Hat Bounty To Hacker

The exchange has initiated a move to recover part of the stolen funds from the exploit. The exchange offered 5% of the stolen funds, worth almost $400,000, as a white-hat bounty for the hacker.

According to data from Etherscan.io, HTX also proposed an immunity for the hacker in Chinese. The exchange stated that the attack has seven days to comply by returning 95% of the stolen funds or face the law. 

Justin Sun also talked about the stance of the exchange to reduce the loss. He said:


$8 million represents a relatively small sum in comparison to the $3 billion worth of assets held by our users. It also amounts to just two weeks’ revenue for the HTX platform.

Further, Sun noted that he will conduct live streams in English and Chinese on discussions about HTX’s security. Meanwhile, HTX has also initiated real-time surveillance processes to evade a reoccurrence of such exploits.

Featured image from Pixabay and chart from TradingView.com




Source link

The post CZ To Help HTX Track Stolen Funds, Appoints Binance Security Team to Investigate appeared first on Job From Home Blog.

Libellés :

Commentaires

Enregistrer un commentaire

Posts les plus consultés de ce blog

Jojobet (464)

Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Geri dönüşü yüksek bir heyecana hazır olun! Heybetli rekabet atmosferinde keyifli bir oyun deneyimi sunan öncü bir bahis platformuna hoş geldiniz. İnternetin en güvenilir ve güçlü adreslerinden biri olarak, size en üst düzey kalite standartlarına sahip online bahis fırsatlarını sunmaktan gurur duyuyoruz. Bahis ve şans oyunları tutkunlarının beklentilerini aşan kapsamlı hizmetlerimizle sizi unutulmaz bir yolculuğa çıkarmak için buradayız. Profesyonel ekibimiz, Türkiye’nin en donanımlı ihtiyaçlarına uygun olarak sürekli yenilenen bahis seçenekleriyle geniş bir kumarhane atmosferi ile etkileyici deneyimler sunar. Farklı spor dallarında eşsiz tahmin ve analiz araçlarıyla dolu olan platformumuz, kazandıran oranlarla sizden tam not alacaktır. En yeni teknolojik yazılım alt yapımız sayesinde, kesintisiz ve sorunsuz oyunculuk deneyiminin tadını çıkarabilirsiniz. Şansın, yetene...
Enregistrer un commentaire
Lire la suite

$3 Million Stolen In ‘Kraken’ Crypto Con

The surge in online scams has drawn heightened regulatory attention towards the crypto industry. A recent case serves as a vivid reminder of the risks involved, where a Connecticut resident became a victim of a significant scam, losing more than $3 million to individuals falsely purporting to be associated with Kraken, a well-known cryptocurrency exchange. The victim, who remains unnamed, was based in Westport and followed advice to transfer funds out of a retirement account, intending to reinvest the money in an account supposedly linked to Kraken. However, their decision led to more than $3 million swiftly disappearing into crypto wallets they could not access. Recovery Of Stolen Crypto Funds Fortunately, the victim sought help from law enforcement, and local detectives, collaborating with the state’s Organized Crime Task Force, launched an investigation. This diligent effort enabled them to trace the transactions and freeze accounts involved in the scam. While they managed to r...
Enregistrer un commentaire
Lire la suite

Space loves AI, AI doesn’t love Space

Space-related applications of artificial intelligence and machine learning are often confined to the ground because moving AI onboard satellites, while promising, is significantly more difficult. “Running AI in space is like running a marathon on the moon — impressive if achieved, but limited by the environment,” said Sylvester Kaczmarek, chief technology officer at OrbiSky Systems, a London startup focused on AI edge operations. Advanced processors are power hungry, meaning satellites with onboard AI require large solar panels and extra batteries. Plus, “radiation in space can fry electronics,” Kaczmarek said. Power management is another problem. Many AI devices require very high currents at low voltages. “The demands that AI devices place on power management are new to the space industry,” said Bert Vermeire, Voyager Space chief technology officer. “There are no good solutions with space heritage and it is difficult to identify efficient and small form factor power and manageme...
Enregistrer un commentaire
Lire la suite