Stock exchange founder promises free cryptocurrencies after major hacks

Hacks are rampant in crypto-land and unfortunately, crypto exchanges are among the most vulnerable to hacker attacks. Last year, hackers stole millions from Huobi and Poloniex, but there is no reason to worry, according to co-founder Justin Sun. He promises that affected users will get everything back with airdrops.

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Justin Sun’s exchanges were hacked

Hoobi has been attacked by hackers several times this year. Last July, it managed to prevent a security problem from causing the largest hack in history. Unfortunately, this wasn’t enough as it was hacked not much later. It lost in September Despite it almost 5,000 ETH to a hacker worth around $7.9 million. Fortunately, affected customers received all lost coins back.

Huobi Global changed its name to “HTX” in mid-September, and hacker influence is likely to be a big reason why. Unfortunately, this had little impact as the platform launched last week targeted for the second time. More specifically, this time it was a cross-chain bridge that the trading platform uses to move tokens from one blockchain to another. HTX subsequently lost almost $63 million.

HTX isn’t the only platform Sun is a co-founder of. He also founded Poloniex, one of the oldest platforms in the crypto industry. Earlier this month, this platform also lost a lot of money – the amount was much larger at $114 million. Even back then, the co-founder emphasized that account holders would get their money back.

Airdrops for those affected by hacks

On the social media platform Both HTX and Poloniex are working to make deposits and withdrawals possible again. Trading is currently only possible on the platforms. Customers will receive all their assets back and all assets will be safe, the founder said. However, it is not yet known when the airdrops will arrive.

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