Sun Yuchen: Respect security, users' assets are sacred and inviolable
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Sun Yuchen: Respect security, users' assets are sacred and inviolable
Huobi HTX will take concrete actions to ensure that user asset security remains at the industry's leading level.
Navigating Web3 tides with focused insightsOn September 26, Justin Sun, member of the HTX Global Advisory Board, hosted a live session titled "Chatting with Brother Sun About Security." The event was broadcast simultaneously on HTX's Twitter Space and HTX Live, where Justin Sun shared insights on cryptocurrency exchange security and responded to the recent hacking incident affecting HTX.
During the livestream, Justin Sun first reviewed the details of the hacking incident. At 6:00 PM on September 24, HTX detected the attack and immediately took action—including swiftly rotating hot wallet addresses, establishing real-time monitoring mechanisms, and setting up a SAFU fund—to ensure full protection of user assets and information. Justin Sun revealed that HTX resolved nearly all issues within 24 hours of the attack. While users were largely unaffected and unaware of the incident, the defensive efforts behind the scenes were extremely intense.
HTX has now fully covered all losses resulting from the attack. Platform operations remain normal, and no user assets have been impacted. HTX has also flagged the hacker’s address and pledged 5% of the stolen amount (approximately $400,000) as a white-hat bounty to incentivize the return of the funds. If the hacker returns the assets, HTX will hire them as a security white-hat advisor for the platform. If the funds are not returned within seven days, HTX will hand over evidence to judicial authorities.
Additionally, HTX is collaborating with professional security teams, blockchain intelligence firms, and leading peer exchanges such as Binance to trace the hacker’s identity and monitor fund movements. While specific investigative details cannot be disclosed at this time, HTX will do everything possible to pursue legal accountability if the hacker does not return the funds.
Justin Sun stated, “We encourage white-hat behavior and are highly confident in recovering these funds. HTX has successfully worked with authorities to apprehend hackers in the past and will never tolerate malicious attacks. Even if a non-HTX user suffers asset loss, we will launch public-interest initiatives to help recover their funds.”
Justin Sun concluded that security is an expensive lesson, but one that must be mastered to become top performers. This hacking incident served as a valuable lesson for both himself and the team. HTX must reflect and enhance its platform security.
HTX will take concrete actions to maintain its user asset security at the industry’s highest standards. First, it will adopt more advanced security tools and technologies to promptly detect and block potential threats. Second, it will partner with leading security auditing firms across the industry to conduct regular audits and fix any identified vulnerabilities. Finally, it will implement periodic security upgrades, including updates to custodial personnel and institutions.
Reflecting on multiple hacking incidents throughout the crypto industry, Justin Sun said, “Past experiences have taught us that security is an ongoing race of ‘the defender builds a foot, the attacker climbs a yard.’ Cryptocurrency exchanges must implement comprehensive measures to protect user assets, continuously improve platform security, and strengthen defenses to the greatest extent possible.”
Addressing community speculation that the hacking incident was a self-staged marketing stunt by HTX, Justin Sun responded that while HTX has previously executed high-profile marketing campaigns, the platform has always held security in deep respect. User assets are sacred and inviolable, and HTX would never exploit a security incident for promotional purposes.
Throughout the session, Justin Sun repeatedly emphasized the importance of security, stating multiple times, “Security is an eternal topic—we will always place the safety of user assets above everything else.”
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