Justin Sun: HTX and Poloniex Customer Assets Are 100% Safe (Despite the Hacks!)

Justin Sun Reassures Customers Assets Remain 100% Secure Despite $200 Million Hacked from Exchanges

Justin Sun assures customers that their assets are secure, despite $200 million being stolen from exchanges.

Customer deposits at sibling crypto exchanges HTX and Poloniex are “100% safe” despite multiple recent hacks, according to the one and only Justin Sun – the owner of both platforms. Yes, you heard that right, folks! The man with the plan has spoken.

In a conversation with CoinDesk, Sun confidently declared that both platforms have not only recovered from the hack but have also resumed user withdrawals for the majority of their assets. It’s like they waved a magic wand and made those funds reappear!

But hold your horses, dear investors, we’ve got some numbers to back up Sun’s bold claims. Brace yourselves for the percentages! According to Sun, HTX has already resumed a staggering 95% of USD worth of assets, while Poloniex has bounced back with 85% in terms of good ol’ greenbacks. That’s no small feat, my friends.

Now, let’s rewind a little to see how we got here. In early November, Poloniex suffered a heartbreaking loss of $125 million from its hot wallet. Like a sneaky thief in the night, a hacker snatched away over 175 different tokens from the exchange, leaving them to pick up the pieces. But fear not, for Sun assured everyone that these losses were “within manageable limits” and could be covered with the exchange’s revenue. Talk about a financial superhero!

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But wait, there’s more drama to uncover! In the same month, the HTX-controlled HECO chain experienced a not-so-fun incident. Hackers drained their bridge to the Ethereum network, resulting in a loss of $86.6 million. Ouch! However, Sun swiftly guaranteed that all these losses would be reimbursed using exchange revenue. Apparently, they had a pretty penny tucked away, with a whopping $200 million in revenue for Q3 alone. Impressive, right?

So now, hold on to your seats as I drop a truth bomb on you: “100% of assets are 100% safe,” declared Sun triumphantly. Don’t you love the sound of that? Of course, there’s still the small detail of actually earning those profits in the future, but hey, at least your hard-earned assets are secure.

And just when you thought it couldn’t get any better, an HTX spokesperson chimed in, claiming that the lost funds were merely a “small fraction” of the exchange’s total reserves. It’s like losing a few pennies from your overflowing piggy bank. They can handle it with ease!

Now here comes the juicy part, my dear readers. Due to those pesky withdrawal restrictions on certain altcoins, both HTX and Poloniex have witnessed something truly remarkable – trading premiums for Bitcoin and Tron. It’s like a frenzy out there as traders quickly try to liquidate their small-cap positions to get their funds off the platform. Don’t you just love market volatility?

But fear not! The man of the hour, Justin Sun, has promised to compensate affected customers with a Tether airdrop. Yes, ladies and gentlemen, airdrops are raining down on us like dollars from the sky. For every dollar worth of tokens held on the exchanges, customers will receive a shiny stablecoin. You get a stablecoin, and you get a stablecoin, and everyone gets a stablecoin!

If you’re wondering how Justin Sun became such a force to be reckoned with in the crypto industry, let me enlighten you. Before launching Poloniex in 2019, Sun worked his magic and founded the Tron blockchain back in 2017. And boy, oh boy, it’s now the 11th largest crypto in town, with a market cap exceeding $9 billion. It’s safe to say this man knows a thing or two about making waves in the crypto world.

But wait, there’s always a twist in the tale, isn’t there? Just like other crypto founders, Sun has found himself tangled in a lawsuit. The Securities and Exchange Commission (SEC) alleged that Sun failed to disclose paid celebrity endorsements for Tron’s TRX and BTT tokens. It’s like a rollercoaster of drama and intrigue!

So, dear readers, as you navigate the treacherous waters of the crypto world, rest assured that your assets are in the capable hands of Justin Sun. With his charm, resilience, and the promise of stablecoins raining down like confetti, what could possibly go wrong? Keep calm, invest on, and remember, “100% of assets are 100% safe!”

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