News Report Technology
January 19, 2024

HTX Swiftly Restores Operations Across Services After DDoS Attack

HTX and HTX DAO Services Restored After DDoS Attack

Cryptocurrency exchange HTX, along with the HTX DAO (decentralized autonomous organization) reinstated their services following a distributed denial-of-service (DDoS) attack that occurred on Friday. The DDoS attack, which endured for approximately 15 minutes, resulted in a temporary outage for both applications. 

Justin Sun, a well-known figure in the cryptocurrency space and an advisor to HTX, confirmed the recovery on the social media platform X and expressed gratitude to users for their support, assuring that all funds are safe.

A DDoS attack is designed to disrupt an online service by flooding it with a high volume of requests, overwhelming its capacity with the goal of it being unable to respond to legitimate requests.

HTX also encountered a security breach on November 10th of the previous year, resulting in an attack that led to the theft of approximately $97 million from both the exchange and the blockchain protocol Heco Chain. However, in December, Justin Sun reassured the safety of assets held on HTX and Poloniex, stating they were “100% safe.” 

HTX Expands Beyond Crypto Exchange, Advances in Security 

Founded in 2013, HTX evolved from a cryptocurrency exchange to a diverse ecosystem incorporating various facets of blockchain enterprises, including digital asset trading, financial derivatives, wallets, research, investment, incubation, and other sectors. During its 10th-anniversary celebration last year, Huobi officially rebranded its name, transitioning from “Huobi” to “HTX.”

Recently, HTX introduced HTX DAO, a multi-chain decentralized autonomous organization embracing a user-driven governance mechanism, signaling its aspirations to transform into a decentralized platform. 

HTX exchange subsequently joined the HTX DAO ecosystem, enabling users to engage in the exchange’s operation and development through voting, participating in community discussions, and selecting representatives. Additionally, the exchange announced plans to execute collaborative initiatives with HTX DAO, encompassing marketing endeavors, community incentives, and mechanisms for user feedback.

Today, HTX DAO announced it underwent a security audit conducted by ChainSecurity, a security audit company based in Europe and America that is recognized for providing security audit services to prominent projects like Polygon, Uniswap, MakerDAO, and Yearn.

After a brief disruption caused by a DDoS attack, HTX and HTX DAO swiftly restored their services, highlighting the platform’s commitment to serving the community and reclaiming its leading position in the cryptocurrency sector.

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About The Author

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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Alisa Davidson
Alisa Davidson

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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