What A Déjà vu

Just the other day we heard that Huobi would be rebranding from Huobi to HTX, which made us feel like déjà vu, because HTX is just a letter different from FTX. And right now the entire crypto space sees FTX has a forbidden name because of the bad experience that came with FTX. Small talks went round saying, what if they crash like FTX since they almost sound alike. Besides, Huobi(Now HTX) is rumoured to be owned by Justin Sun, the crypto billionaire that a lot of people always have not nice things to talk about. So people are already expecting the exchange to flop since its name is closed to an exchange that has already flopped before in the past. Well, it kind of felt like they were right when Justin Sun announced that the exchange had lost over $8 Million worth of Ethereum to hackers. Well, $8 Million seems like not a lot of money for our crypto billionaire but then, a lot of things are hidden in this social media space, because Sam Bankman-Fried was the youngest crypto billionaire, people thought he was super liquid. People thought that he had enough money to never make his customers go broke or lose their funds, but look at what happened at the end. Justin Sun has assured all HTX customers that their assets are SAFU and they shouldn’t worry. HTX has covered all loses and there will be a white hat bonus for the hacker if they refund the funds. This bonus is $400k, well let’s watch and see, this just proves one thing, cold storage wallet is still the best way to make sure your crypto asset is safe. Because you don’t want to end up like the other crashed exchanges customers who are still hoping for a refund after all these years. Look at Mt.Gox, the customers are yet to get a refund after over 5 years.