THE:Huobi Global's Statement on the Facts Regarding the GALA Incident

DearHuobiUsers,

InresponsetopNetwork'sstatementontheGALAincidenttoday,HuobiGlobal'sreplyonwhatactuallyhappenedisasfollows:

WethinkthatpNetwork'sactionisnota"whitehat"operation,butamalicioushackdrivenbyprofitandbadfaith.

Wehave3reasonstobackourargument:

1.Initspriorcommunicationswithcentralizedexchanges,thepNetworkteamneversaiditintendedtoattackitsmisconfigurationloopholebymintinganastronomicalamountofvaluelesstokens.WhatisworsethanhidingitsintentionisthatpNetworkexploitedtheloopholeonitsownsmartcontractandissued55.6billionPGALAtokenstocarryouttheattack50minutesaftercontactingotherexchanges,notleavingsufficientresponsetimetotheexchanges.Apostmorteminvestigationrevealedthatthemisconfiguration,orvulnerability,wascausedbyapNetworkengineermistakenlyembeddingakeyinthesmartcontract67daysago,whichsubsequentlyledtothisveryincident.

Huobi即将上线CSPR（Casper）:据官方消息，Huobi Global“创新区”定于2021年5月11日上线CSPR (Casper) 。5月11日18:00 开放CSPR的充币业务；充值量满足市场交易需求时开放CSPR币币交易（CSPR/USDT、CSPR/BTC），具体时间将以公告形式提前通知，

同时，Huobi Global将于5月11日开启充值CSPR，瓜分20,000 USDT奖励池新币活动。2021年5月11日 18:00至5月19日 18:00期间(GMT+8)，从外部地址向平台成功充值CSPR的用户，将按照净充值数量瓜分总计20,000 USDT代币奖励。[2021/5/11 21:47:28]

2.ThereisnoevidencewhatsoeverthatanyonewouldleveragethisloopholetoinitiateanattackotherthanpNetworkwhoiseagertoexploititforprofit.Eventhoughtherearemanymoresecuresolutionsathand,thepNetwork,despitethefactthattheloopholehasexistedfor67days,resortedtoattackingtheloopholeandminting55.6billiontokensforprofitwithin50minutesaftercommunicatingwithexchanges.Whataresponsibleprojectteamshouldhavedoneistoleaveaminimumresponsetimeof24hoursforexchangestoswitchtothenewtoken,suspenddepositsandwithdrawalsontheoldsmartcontract,andcallforPancakeswapuserstoretracttheirliquiditypools.ItisunjusifiedandunnecessaryforpNetworktoactivelyattackthisloopholeandmintanenormousamountofnewtokens.Throughthisattack,pNetworkhasprofitedoverUS$4.5million.Meanwhile,multiplerelatedaddressestookplannedandcoordinatedactionsandmademillionsofdollars.TheircombinedprofitsareanexcessofUS$10million,clearlyindicatingthepurposeoftheattackwastomakeprofits.

Huobi 将于4月20日上线STAKE:据官方消息，Huobi Global“全球观察区”定于2021年4月20日上线STAKE（xDAI Stake），其中将于15:20 开放STAKE的充币业务；17:30 开放STAKE币币交易。[2021/4/20 20:40:10]

3.pNetworkarguedthatthemintingofanstaggeringamountof55.6billiontokenswastorecoupaliquiditypoolthatisonlyworthUS$400,000.Thisreasoningisgroundlessandfarfetched.pNetworkandGALAteamswerefullyawareofthedevastingimpactofthisoperation.Onewouldwonderwhywouldtheyunilaterallyminted55.6billionGALAtokenswithoutleavinganytimeforthirdpartiestoreact.Inaddition,pNetworkisnotentitledtodraintheUS$400,000liquiditypool,whichbelongstousers.Alltheseseeminglypreemptiveactionsareclearlyprofit-seekingbehaviourindisguise.WhatpNetworkhasdoneistocarryoutanactualhackundertheguiseof"whitehat"operationtoavoidlegalconsequences!

Inaddition,wehavesortedoutthekeyeventtimelinerelevanttoHuobiGlobalasbelow:

11-0319:23(UTC):pNetworkcontactedHuobiGlobalthroughaseparatepointofcontact.However,itdidnotinformusthatpNetworkwasgoingtocarryouttheattack,nordiditindicatethatitwouldissue55.6billionGALAtokenstobedumpedinthemarket,whichcausedextremelyheavylossestoinnocentusersandexchanges.

1000万枚USDT从Huobi交易所转出，价值997.1万美元:据Whale Alert数据显示，北京时间08月11日15:01, 1000万枚USDT从Huobi交易所转入TRg4pR开头地址，按当前价格计算，价值约997.1万美元，交易哈希为：2f49bbc2af9bda1180aa797cce653f0c006872a0ed5f4f9cdc1be289341b01a6。[2020/8/11]

11-0319:48(UTC)GalaGamesreportedthatBinance.UShasconfirmedBEP20deposits/withdrawalsforGALAaresuspended.Howeveritdidnotconfirmthedeposits/withdrawalswithHuobiGlobal.

11-0320:13(UTC)pNetworkissued27,814,200,000pGALA.

11-0320:27(UTC)pNetworkissuedanother27,814,200,000pGALA,increasingthetotalcirculationofpGALAto55.6billion.

11-0320:28(UTC)pNetworkissuedanannouncementfalselyclaimingthe"misconfigurationofthep.Networkbridge",whichledtothemintingofover$1billionworthofpGALAtokensonBNBChainoutofthinair.pNetworkhasconvenientlycoveredupthefactthatitwasthehackerinthisincident,andattackedtheloopholetoissue55.6billionGALAtokensoutofthinair.Theactofdumpingforprofitconstitutesacriminaloffense.

火币推出资产管理平台Huobi Asset Management:火币集团全球业务副总裁Ciara Sun发推称，火币将推出资产管理平台Huobi Asset Management，符合要求的用户可将其加密投资组合委托给世界领先的交易机构。

该平台内的服务规则指出，使用该平台需以下条件：

1. 各平台数字资产等值不低于30 BTC的个人客户;

2. 各平台数字资产等值不低于50 BTC且已完成机构认证手续的机构客户;

3. 在使用本项目之前，必须完成火币提供的风险承受力评估。[2020/7/27]

Tosumup,wehavereasontobelievethat:

pNetwork'sactionisnota"whitehat"operation,butamalicioushackwithprofitasitstheultimategoal.WebelievethatthisisapremeditatedattackplannedbythepNetworkteam,andthewhitehatoperationisjustanillegalexcusesoughtbythepNetworkteamtoavoidlegalconsequences.

Initsdealingwiththisincident,GalaandpNetworkteamsnevertriedtoreachHuobiGlobalviaofficialcommunicationchannelstoconfirmthesecurityandfeasibilityoftheirplans.Rather,theyactedinbadfaithandabusedtheirmanagementpermissiononBNBChainbymintingover55.6billionGALAtokensforprofitablesell-offs.

动态 | 500万枚USDT转入Huobi交易所，价值498.9万美元:据WhaleAlert数据显示，北京时间02月10日21:51，500万枚USDT从TJRpyJ开头地址转入Huobi交易所，按当前价格计算，价值约498.9万美元，交易哈希为：c521d8caf527257bc84c67c58bb22f7c574f2a2771726352cc8f565a339044b3。[2020/2/10]

TheGALAandpNetworkteamscouldhaveusedothersafermethodtofixthevulnerabilityandavoidthisunfortunateincidentfromhappening.However,theychosetocoverupthefactsandexecutedamassiveattackinvolving55.6billionGALAtokenswithin50minutesaftercontactingtheexchanges.Thisisamaliciousattackmotivatedbyprofitandistantamoustoaterroristattackoninnocentusersandplatforms.Theentireindustryhassufferedahugeblowbecauseofthisincident.

Notlongbefore,onbehalfofourusersvictimizedbypNetwork'sactions,HuobiGlobalcommunicatedandnegotiatedwiththepNetworkteamingoodfaithforreasonablecompensationtothevictims.However,wedidnotreceiveanacceptableresponsefrompNetworkasofthetimethisstatementispublished.

InviewofpNetwork'sunconfirmedunilateralstatementontheGALAincidentthatseriouslydeviatesfromthefacts,itshowshowtheprojectteamisattemptingtoshirkresponsibilities,whilecausingsignificantdamagetotheassetsecurityofHuobiGlobalusers.Astheworld'sleadingvirtualassettradingplatform,protectingourusers'interestsandsafeguardingassetsecurityhavealwaysbeenthecoreresponsibilityofHuobiGlobalsinceourestablishmentnineyearsago.Tofulfilourcommitmenttoourusers,wewilltaketheleadingatheringandrepresentingthevictimsofHuobiGlobal,andwewillworkwithglobalpartnerstoexercisealllegalmeans,includingclassactionsandlodgingpolicereports,toinvestigateandpursuecriminalchargesagainsttheperpetuatorsfrompNetwork.

Weurgeallattackerswhoexploitedthesecurityvulnerabilitytoreturntheunjustifiedgains.HuobiGlobaliswillingtopaytheattackersfromour$1millionbountyfundandnotpursueanylegalactionagainstthem.Lastly,wewouldliketoreiteratethatHuobiGlobalalwaysstandbyourusers,andwewillnotstopuntilallofourusers'reasonabledemandsaresatisfied.

HuobiGlobal

Nov6,2022

TradeonthegowithHuobiGlobalApp(iOS/Android)

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HuobiGlobalreservestherightinitssolediscretiontoamendorchangeorcancelthisannouncementatanytimeandforanyreasonswithoutpriornotice.TheaboveisforinformationpurposesonlyandHuobiGlobalmakesnorecommendationsorguaranteesinrespectofanyvirtualasset,product,orpromotiononHuobiGlobal.Pricesofvirtualassetsarehighlyvolatileandtradingvirtualassetsinvolvesrisk.PleasereadourRiskRemindertexthere.

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