Huobi (formerly known as HTX) was hacked last Sunday, resulting in a loss of approximately 500 Ether, equivalent to around $8 million.
Justin Sun, who is an advisor to HTX and founder of Tron, confirmed the incident and assured that all losses were covered and that funds are safe.
The hacked wallet was one of HTX’s hot wallets, which has received around $500 million in deposits from Binance since its creation in March, according to data from Arkham.
Sun addressed the incident on his social media platform X, stating that the $8 million loss is relatively small compared to the $3 billion worth of assets held by HTX users and amounts to just two weeks’ revenue for the platform.
