"Sun Advocates for Crypto Security Collaboration After $1.5B Hack"

Justin Sun, Global Advisor at HTX, has been advocating for enhanced security collaboration within the cryptocurrency industry following a recent $1.5 billion hack on a major exchange. In a live discussion hosted by HTX, Sun emphasized the importance of security as a top priority, stressing the need for continuous vigilance and learning.

Sun highlighted the evolution of hacker tactics, from early hot wallet attacks to sophisticated multi-signature wallet breaches, and called for exchanges to strengthen their security protocols. He compared security to personal health management, requiring internal efforts and a proactive approach. HTX has implemented various security features, such as multi-device login, remote login alerts, and abnormal transfer alerts, and has maintained reserve ratios exceeding 100% through public disclosure of Merkle Tree Proof of Reserve (PoR) for 28 consecutive months.

Sun's commitment to security extends beyond HTX, influencing security practices across the broader crypto landscape. He believes that security is fundamental to every business and product, citing the early implementation of native multi-signature functionality in TRON and the recent launch of USDD 2.0 as examples of proactive security design. HTX collaborates with numerous white hat teams for continuous penetration testing, security drills, and vulnerability mining, actively monitoring global cryptocurrency security incidents.

Regarding the controversy surrounding CZ's suggestion for the affected exchange to suspend withdrawals, Sun acknowledged the validity of the advice from an exchange perspective. He explained that the initial hours after a security breach are crucial for investigation and ensuring safety, and while suspending withdrawals is necessary to eliminate risks, the suspension period should be minimized to reduce user impact.

Sun called for closer cooperation between exchanges, security agencies, and the community to jointly address hacker threats, promote technological sharing, security innovation, and information exchange, and foster the healthy and sustainable development of the industry. HTX demonstrates its commitment to security through a proactive and continuously improving approach, encompassing collaboration with leading security experts, rigorous ongoing monitoring, robust internal protocols, and a focus on enhancing multi-signature support, security alerts, and mitigating emerging threats such as hashtag scams.