Hackers hit crypto exchange giant HTX with a distributed denial of service (DDoS) attack on Friday morning, causing a brief outage.
A DDoS attack is a malicious attempt by malicious actors to flood the target website with traffic to overwhelm the site’s infrastructure.
HTX is the new brand name of Huobi. Tron (TRX) founder Justin Sun, who says he is an “advisor” to the exchange, announced the hack early Friday morning. The crypto magnate noted a few minutes later, services were restored and all user funds were safe.
The attack is the latest in a series of incidents for HTX. According to the blockchain security company, hackers abused the exchange for approximately 4,999 Ethereum (ETH) worth $7.9 million in September. PeckSchild.
In November, hackers exploited two Sun-linked protocols, HTX and Heco Bridge, a bridge used to move money between Ethereum and the energy-saving blockchain Heco Chain, at a total cost of $100 million, according to cybersecurity firm Cyvers.
Sun too recently shared a response from Tron after the United Nations Office on Drugs and Crime (UNODC) said in a report earlier this month that it is the blockchain of choice for money launderers and fraudsters in East and Southeast Asia.
The UNODC says criminals in the region prefer to use the top stablecoin USDT on the Tron blockchain due to the combination’s stability, convenience, anonymity and low transaction fees.
Tron claims the report is incorrect.
“Tron actively works with leading forensic partners across the chain to exchange information about transactions on the blockchain, which play a crucial role in the wider industry. Tron Network prides itself on staying on the cutting edge of the blockchain industry, a decentralized technology that is used for good by design.
However, as a decentralized technology, Tron cannot comment on the actions of independent third parties, including Tether. Tron fully supports the UN’s stance against malicious actors in the blockchain space. However, it is fundamentally flawed to claim that Tron, Ethereum or similar decentralized protocols can exert direct control over those who use this open source technology.”
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