Singapore Exchange HTX Freezes Accounts Under $7 Due to Dusting Concerns

HTX, a cryptocurrency exchange based in Singapore, has announced that it will be freezing accounts with less than $7 worth of funds due to 'dusting' concerns. The move is aimed at preventing tiny amounts of cryptocurrencies from being sent as spam or phishing attempts.

Dusting refers to the practice of sending a small amount of cryptocurrency to an account in order to drain its balance and make it susceptible to hacking. This can be done using various techniques, including exploiting vulnerabilities or simply by buying up large quantities of the cryptocurrency.

The $7 threshold is seen as a compromise between preventing dusting attacks and preserving user funds. The exchange has stated that this measure will help protect users from unnecessary account freezes due to these types of attacks.