There is evidence to suggest that users may be losing faith in the crypto exchange HTX (formerly Houbi). This comes on the back of significant security breaches that the exchange has experienced in recent times.
HTX Sees More Outflows Than Inflows
Data from DefiLlama shows that HTX has seen over $200 million leave the exchange from a period dating from November 22 up until December 10. This is noteworthy because November 22 happens to be the time when the crypto exchange and blockchain protocol Heco Chain were hacked. This led to a loss of over $100 million in several assets.
HTX had to halt its operations following the hack. Before it resumed operations back on November 26, the exchange had released a statement in which it 100% guaranteed that users’ funds were safe. However, that did little to alleviate the fears and concerns of users, as many have continued to withdraw their funds since then.
The fears of these users are undoubtedly valid, considering that this most recent hac
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