Huobi Global's cryptocurrency exchange HTX has been targeted by hackers in late September, resulting in the loss of approximately 5,000 ETH worth $8 million from one of its hot wallets.

The company has confirmed that they have successfully recovered the stolen funds on October 7, after offering a reward of 250 ETH.

HTX made contact with the hacker immediately after detecting the issue on September 25, and proposed a reward of 5% amounting to $400,000 if 95% of the funds.

HTX advisor Justin Sun expressed gratitude for the support received from the industry and emphasized that security remains a top priority.

There has been a notable increase in hacking incidents during the third quarter of 2023, particularly in the blockchain and Web3 sectors.

Immunefi, a blockchain security platform, reported a total of 76 hacks on crypto and Web3 projects in Q3 2023, compared to 30 in Q3 2022.

Coinciding with the HTX hack, Mixin Network also experienced a breach amounting to approximately $200 million due to a vulnerability in a third-party cloud service provider. In an effort to recover the funds, Mixin Network has offered a substantial bounty of $20 million, although the chances of retrieval seem uncertain at this time.