HTX and Poloniex to conduct airdrop after hack worth more than $210 million

The event will be timed to coincide with the full resumption of deposit and withdrawal functions

27.11.2023 - 13:05

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3 min

What’s new? Justin Sun, CEO of Poloniex and HTX (formerly Huobi) cryptocurrency exchanges, announced a free airdrop of digital assets among the platforms’ users. The event will be timed to coincide with the full resumption of the deposit and withdrawal functions, which were suspended after the hack of both exchanges totaling $210,6 million. The businessman again apologized to those affected and assured that all losses would be covered. According to him, users’ assets are currently safe.

Source: Twitter.com

What else is known? The attacks on Poloniex and HTX were among the top five largest this month. On November 10, Poloniex lost over $124 million, with the hacker refusing to make a deal that could have left him $6,2 million as a reward. The exchange’s team handed over his details to police in China, the Russian Federation, and the US. On November 22, HTX was attacked, as well as the bridge of its blockchain Heco, the damage exceeded $86,6 million. After the attacks, both exchanges disabled deposit and withdrawal functions.

Since November 24, HTX has gradually restored the deposit and withdrawal functions of native coins of the TRON (TRX) blockchain, whose creator is Justin Sun, as well as bitcoins, Ethereum,and USDT stablecoins. Sun noted that the remaining tokens will become available in the coming days, and all technical work to restore the exchange’s operations will be completed by the end of the week.

As for Poloniex, deposit and withdrawal will be resumed on November 30 at 02:00 UTC. The developers have already conducted a comprehensive update of user wallets and warned that on the specified date clients will need to update their deposit addresses. Otherwise, funds may be lost when sent to the exchange.

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The top five biggest hacks of November also included an attack on market maker Kronos Research: it lost $25,65 million and was forced to suspend trading. The result of the suspension was a massive liquidation of positions of users of the WOO exchange, for which Kronos was the largest liquidity provider. The exchange began paying compensation to clients on November 21.

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