There has been growing concern within the cryptocurrency community regarding the faith in the crypto exchange HTX, formerly known as Houbi. The exchange has been marred by significant security breaches, leading to a notable outflow of funds and a dampened sense of trust among its users.

According to data from DefiLlama, an alarming $200 million has exited HTX between November 22 and December 10, coinciding with a period that witnessed a considerable security breach and subsequent halt in its operations. The loss of over $100 million in assets due to a hack on the Heco Chain has further instilled unease among users, resulting in ongoing fund withdrawals despite the exchange’s reassurances about the safety of users’ funds.

This recent breach is compounded by a previous exploit that resulted in a loss of approximately $8 million. The exchange’s security measures have been called into question, adding to the apprehension of users seeking to safeguard their assets and avoid potential losses akin to those experienced by other crypto exchanges in the past.

Of particular interest is the involvement of Justin Sun, an advisor to HTX. Notably, Poloniex, another crypto exchange owned by the Tron Founder, fell victim to an exploit in November, leading to a loss exceeding $100 million. Speculation arises about a potential targeted attack on Justin Sun, prompting concerns regarding the network’s susceptibility to security threats.

Despite the challenges faced by Sun and the associated crypto exchanges, Tron has demonstrated resilience and maintained its steadfast adoption. Recent reports revealed that over 200 million accounts have been created on the Tron network, reflecting a strong user base. Additionally, Tron continues to lead in the number of daily active users, with a predominant focus on USDT transfers driven by the network’s advantageous gas fees.

Sun acknowledged the pivotal role of Tether, emphasizing its significant user base on Tron and the widespread adoption of USDT within the network. Despite the uncertainties surrounding HTX, Tron’s robust performance and enduring appeal underscore its stability and reliability within the cryptocurrency landscape.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The NFT and cryptocurrency market is highly volatile, and readers should conduct thorough research before making any investment decisions.