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CZ appoints Binance security team to track Huobi HTX stolen funds

Published 09/26/2023, 04:16 AM
Updated 09/26/2023, 06:00 AM
ETH/USD
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Hours after the crypto exchange HTX (rebranded from Huobi) reported a hack that resulted in a loss of $8 million, Binance CEO Changpeng “CZ” Zhao offered the help of the exchange’s security team in investigating the attack.

Timely intervention is key to tracking down and retrieving stolen cryptocurrencies, as hackers attempt to hide their tracks using mixers or converting the loot to privacy tokens. On Sept. 24, blockchain analytics platform Cyvers identified a hack that drained 5,000 Ether (ETH) from one of HTX’s hot wallets.

HTX offering hacker immunity for returning 95% of the stolen funds. Source: etherscan.io

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