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BrianGolden Finance launches "Golden Web3.0 Daily" to provide you with the latest and fastest game, DeFi, DAO, NFT and Metaverse industry news.
JinseFinanceUnless explicitly tagged and identified, it was impossible to track what wallets an exchange owns, or might own. As a result, the idea of Proof of Reserves (PoR) emerged.
BrianHTX, formerly Huobi, faces a significant crisis as over $256 million is withdrawn following a major hack, raising concerns about the exchange's security. The aftermath of the breach, coupled with Justin Sun's connections and allegations of fraud surrounding the TRX token, intensifies skepticism within the cryptocurrency community. Despite recovery efforts, HTX's integrity is questioned, prompting a call for robust security measures and transparency in the evolving digital asset landscape.
Huang BoHTX, the digital-asset trading platform associated with industry figure Justin Sun, witnessed a considerable $258 million net outflow following its reactivation after a significant security breach. Data from DefiLlama between November 25 and December 10 showcased the funds departing the exchange, signifying unease among some clients due to the prior security incident. HTX encountered a $30 million loss in crypto tokens during the breach, prompting temporary suspension of withdrawals and deposits as a precautionary measure.
JoyOn June 20, 2023, X-Spot submitted an application for an injunction to the Hong Kong High Court, seeking to compel Huobo Global to cease its trademark infringement.
BrianThis incident follows a string of exploits related to Justin Sun, who just saw Poloniex suffer a $100 million hack this month.
DavinThe practice of burning tokens has been a consistent strategy for Huobi since 2018, and as of October 15, 2023, a cumulative total of 301,002,441 HT has been burned.
JasperUsers won't have the protection of the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS) if issues arise.
DavinHTX fell victim to a hack as Justin Sun confirmed the $8M attack but called it a "relatively small sum” and reassured users that all funds are secured.
Catherine