Huobi was just hacked for 4999 ETH ($7.9m USD)

Another week another hack. Huobi Exchange was hacked for over $7.9 million U.S dollars. The attack took place yesterday when CyversAlerts’s ML-powered system detected a suspicious transaction from Huobi’s Hot wallet.

Here’s how it all went down.

CyversAlters noticed that 4999 ETH (around $7.9 million) was transferred from Huobi’s hot wallet to an unknown wallet address with no history.

Naturally, this raised some big red flags so the guys at Cyvers reached out to Huobi to inform them of the suspicious transaction that their system just flagged. Having received no response, Cyvers continued to monitor the situation for any signs that may either confirm or deny the attack.

Sure enough, this morning (September 25 2023) Huobi announced a Migration to a new Hot wallet, confirming that one of their hot wallets was indeed compromised with the following address being attributed to the main attacker: 0xdb1d74467c9042517a354304256e0d658d8aec83

Etherscan was quick to flag this wallet as the attacker and is now named “HTX Global Hacker 1”.