OBI: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：新火科技是獨立實體，Huobi Global股權已轉讓給About Capital:11月14日消息，據Huobi官方推特表示，Huobi控股股東公司于10月8日將其持有的Huobi全球股份全部轉讓給AboutCapital的基金。新火科技是獨立實體，Huobi運營一切正常，將繼續提供安全可靠的服務。

此前報道，新火科技（原火幣科技）在港交所公告稱，子公司Hbit Limited約有等值美元1810萬的加密貨幣存放在加密貨幣交易平臺FTX，由于FTX的集團實體（包括FTX）已于2022年11月11日在美國申請破產保護，因此可能無法從FTX提取上述加密貨幣資產。[2022/11/14 13:01:28]

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

Web3期權協議Volare Finance完成種子輪融資，Huobi Ventures等參投:10月18日消息，Web3期權協議Volare Finance宣布完成種子輪融資，Master Ventures Investment Management (MVIM)領投，GSR、Arrington XRP Capital、Spark Digital Capital、GSR Markets、Huobi Ventures等參投，但本輪融資的具體金額暫未披露。Volare Finance幫助投資者采用標準期權策略或定制期權策略組合來對沖、投機和提高收益，旨在減少交易者在期權交易中面臨的摩擦。此前，Volare Finance已在Fuji協議上推出測試網，該團隊繼續推動為加密期權交易提供透明、可信賴和方便的去中心化機制。（benzinga）[2022/10/18 17:30:58]

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

Huobi Global已上線TRX/USDC及NFT/USDC交易對:據官方消息，Huobi Global已上線TRX/USDC及NFT/USDC交易對。波場TRON致力于通過區塊鏈技術和分布式應用（DApp）加速互聯網的去中心化。波場網絡于 2021 年 12 月實現完全去中心化，現為由社區治理的去中心化自治組織（DAO）。[2022/9/6 13:11:47]

Inaddition,wehavesortedoutthekeyeventtimelinerelevanttoHuobiGlobalasbelow:

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

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.

Huobi X Center孵化的NFT綜合服務平臺iBox正式上線，聯合陳小春發行首個NFT作品:5月17日，由Huobi X Center孵化的NFT綜合服務平臺——iBox正式上線。iBox（ibox.com）將向全球用戶推出NFT發行及交易服務，旨在打造全球領先的NFT交易平臺。iBox的使命是促進全球資源的價值流通，為構建高效運轉的數字世界提供基礎服務。

iBox上線首日即聯合知名影星陳小春先生發行首個NFT作品“iBox 001號”，這也是國內首個明星NFT作品。相較其他NFT Marketplace，iBox主打高端NFT發行、流通，更縱深服務于亞洲的NFT玩家，其大部分NFT產品均與大眾耳熟能詳的知名IP、知名藝術家或公眾人物聯合發布，以確保NFT品質及收藏價值。[2021/5/17 22:12:13]

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

Tosumup,wehavereasontobelievethat:

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

Huobi已發放65000MASK新幣獎勵，價值約91萬USDT:據官方消息，3月10日HuobiGlobal已發放65000MASK的新幣活動獎勵，按照14USDT的價格，獎勵價值約91萬USDT。HuobiGlobal“全球觀察區”于2月24日上線MASK，并開啟充值、交易、持倉瓜分65000MASK的新幣活動。

截至3月10日18時，MASK價格約為14USDT，上線2周累計漲幅達1373%。[2021/3/10 18:32:58]

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

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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