HTX Exchange, a digital asset trading platform linked to Chinese-born cryptocurrency industry tycoon Justin Sun, has seen a net outflow of 2$5.8 billion.
Defillama data showed that funds left the exchange between the restart on Nov. 25 and Dec. 10, suggesting that some customers were upset by last month's security incident. HTX said it lost $30 million worth of cryptocurrency in the attack and suspended withdrawals and deposits after the attack.
Neither the exchange nor Mr. Sun's spokesman immediately responded to requests for comment on the outflows.
Justin Sun is also connected to the Poloniex exchange and the HECO Bridge, a network built by HTX for transfers between blockchains. Poloniex and HECO were also hacked in November, resulting in the theft of approximately $200 million in cryptocurrency.
In the aftermath of the HTX incident in November, Justin Sun said in an article on X that the investigation was ongoing and that the exchange would "fully compensate for the loss of HTX hot wallets." In September, hackers also stole $8 million from the platform.
*Top 20 Exchanges*
HTX, once known as Huobi (Huobi), made it among the top 20 crypto exchanges by CoinMarketCap as of December 10, with an average trading volume of $1.6 billion in the last 24 hours, according to CoinMarketCap.
After the FTX platform went bankrupt last year and there was a huge hole in the books, digital asset investors became more comfortable with the flow and reserve changes of virtual currency exchanges.
According to Defillama, the largest portion of HTX's reserves – about 33% – are made up of Bitcoin. About 32% comes from TRX tokens on the TRON blockchain, which was launched by Justin Sun in 2017. HTX's exchange token, HT, accounts for about 14%, followed by Justin Sun's token, STUSDT, with 12%.
TRX is at the heart of the fraud allegations against Justin Sun in the United States. The U.S.-** Securities and Exchange Commission accused him and his company of manipulating the market in a lawsuit in March to make the token appear to be actively trading. Mr. Sun tweeted at the time that the lawsuit was "baseless."
Security firm Blocksec said HTX recovered $8 million in stolen money in September. The report also said that the hackers still appear to be in control of the $30 million stolen last month.