HTX Overcomes DDoS Hurdle, Assures User Fund Safety
In response to a recent Distributed Denial-of-Service (DDoS) attack, HTX, a prominent cryptocurrency exchange, and its decentralized autonomous organization (HTX DAO) have successfully reinstated their services. The DDoS attack, occurring on Friday, briefly disrupted operations but was quickly addressed, showcasing the platforms’ resilience and robust security protocols.
HTX and HTX DAO: Swift Recovery Post-Attack
The DDoS attack on HTX and its DAO lasted approximately 15 minutes, causing a temporary suspension of services. Despite this, the platforms demonstrated remarkable agility in mitigating the impact. Justin Sun, a key figure in the cryptocurrency industry and advisor to HTX, took to social media to confirm the recovery. He thanked the user community for their support and reassured them that all funds remained secure.
The exchange’s prompt action in the face of this cyber assault is not its first encounter with security challenges. The platform experienced a significant security breach on November 10th of the previous year, leading to around $97 million in theft. However, subsequent measures taken by the cryptocurrency exchange, including statements from Justin Sun, ensured that user assets remained protected.
Evolving Ecosystem and User-Centric Governance
Founded in 2013, the exchange has evolved substantially, expanding from a simple cryptocurrency exchange to a comprehensive blockchain ecosystem. This ecosystem now includes digital asset trading, financial derivatives, wallets, and other blockchain-related services. In a move that marked its decade-long journey in the industry, the exchange rebranded from its original name, “Huobi,” to “HTX” during its 10th-anniversary celebrations.
The introduction of HTX DAO represents a significant stride in the platform’s evolution. HTX DAO is committed to user-driven governance as a multi-chain decentralized autonomous organization. Through this platform, users can actively participate in the exchange’s operations, contributing to decision-making processes via voting, engaging in community discussions, and selecting representatives. This exchange integration into the HTX DAO ecosystem emphasizes a shift towards decentralization, reflecting a broader trend within the cryptocurrency sector.
HTX DAO recently underwent a comprehensive security audit by ChainSecurity to further reinforce its security infrastructure. This audit firm, known for its work with major blockchain projects such as Polygon and MakerDAO, lends credibility to HTX DAO’s commitment to maintaining high-security standards.
Read Also: Tron Founder Justin Sun Counters UN Report, Upholds USDT Integrity
- Michael Saylor Says “No New Orange Dots” Pausing Bitcoin Buys as Holdings Hit Record $79B
- Experts Turn Bullish on Pudgy Penguins as PENGU Leads Meme Coin Buys on Solana
- ASTER to Launch Phase 2 Airdrop on October 10 as Open Interest Tops $5B in Two Weeks
- El Salvador’s Bitcoin Holdings Hit $475M Profit as BTC Becomes World’s 7th Largest Asset
- Breaking: Bitcoin Hits New ATH Above $125k as ‘Uptober’ Kicks Off in Full Force
- Dogecoin Price Rebounds 15% From Buy Zone as Whales Add 30M DOGE – Can Bulls Push Beyond $0.30?
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
