HTX and Justin Sun Emphasize Security as Top Priority Amid $1.5 Billion Crypto Hack

Enhanced Security Measures in Response to Evolving Threats

In the aftermath of a $1.5 billion hack on a major cryptocurrency exchange, HTX and its Global Advisor, Justin Sun, underscored the critical importance of security in the crypto industry. During a live discussion titled "Together Against Industry Crisis, Is There a Best Solution for the Security of the Crypto Industry?" Sun emphasized that security is a "top priority" requiring constant vigilance and adaptation. He noted that hacker tactics have evolved from targeting hot wallets to breaching multi-signature wallets, necessitating continuous improvements in security protocols.

HTX has implemented advanced security features such as multi-device login, remote login alerts, and abnormal transfer alerts. Additionally, the platform has maintained Merkle Tree Proof of Reserve (PoR) for 28 consecutive months, ensuring reserve ratios exceeding 100%. These measures demonstrate HTX's commitment to transparency and user asset protection.

Justin Sun's Vision for Security in the Crypto Ecosystem

Justin Sun's focus on security extends beyond HTX, influencing broader industry practices. He highlighted the early adoption of multi-signature technology in TRON as a successful example of proactive security design. The recent launch of USDD 2.0 further showcases his emphasis on addressing security risks in stablecoins. Sun stressed that security should be integrated into the foundation of all crypto products and services, much like personal health management requires ongoing effort and proactive measures.

HTX collaborates with white hat teams to conduct penetration testing, security drills, and vulnerability mining. The platform also actively monitors global crypto security landscape and analyzes hacker attack methods to enhance its defenses.

Addressing Withdrawal Suspension and Industry Collaboration

Sun addressed the controversy surrounding CZ's suggestion for the affected exchange to suspend withdrawals, acknowledging its validity as a necessary step to investigate and mitigate risks. However, he emphasized the importance of minimizing the suspension period to reduce user impact. Sun called for closer collaboration between exchanges, security firms, and the community to combat threats and promote technological innovation.

HTX's Proactive Approach to User Safety

HTX's multi-faceted security strategy includes working with leading experts, ongoing monitoring, robust internal protocols, and enhancing multi-signature wallet support. The platform is also focused on addressing emerging threats such as hashtag scams. This comprehensive approach reflects HTX's dedication to creating a secure and reliable trading environment.

About HTX

Founded in 2013, HTX has grown from a virtual asset exchange into a comprehensive blockchain ecosystem offering digital asset trading, financial derivatives, research, investments, and other services. As a leading gateway to Web3, HTX is committed to providing safe and reliable services through its "Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance" growth strategy.

For more information, visit HTX.com or follow HTX on social media platforms.

This article was originally published on Chainwire.