Security breaches in the cryptocurrency market are endless. This time, hackers took over the HECO Chain bridge and hacked the crypto exchange HTX. After this, the attackers transferred over $86.6 million in altcoins to suspicious addresses. Tron’s founder Justin Sun made a statement regarding the HTX hacking incident. Sun stated that it will fully compensate users for their losses.
Attackers hacked HTX and took over the HECO Chain bridge!
Blockchain security firm PeckShield reported the hack in question. The exchange then suspended withdrawals and deposits. Exchange CEO Justin Sun said HTX will fully compensate users for losses. According to data shared by PeckShield, more than $86.6 million in crypto assets were transferred from the HECO Chain bridge to suspicious addresses. The security firm claims that the bridge is in danger and that there is abuse going on.
#PeckShieldAlert Suspicious huge withdrawal of 10,145 $ETH (~$19m) from #Heco_Bridge. @justinsuntron
Note the tx is initiated by the operator. Looks like a compromised operator?https://t.co/thBVveuL6X pic.twitter.com/th4Ui0FO3A
— PeckShieldAlert (@PeckShieldAlert) November 22, 2023
In response to the incident, Tron founder Justin Sun announced that HTX will fully compensate users for losses incurred in the hacking incident. The company also temporarily suspended deposits and withdrawals while it investigates the incident. The manager stated that services will continue after the investigation is completed. In this context, Sun shared the following from his X account:
HTX and Heco Cross-Chain Bridge were attacked by hackers. HTX will fully offset HTX’s hot wallet losses. Deposits and withdrawals have been temporarily suspended. All funds on HTX are safe and the community can rest assured. We are investigating the specific reasons for the hacker attack. Once we complete the investigation and determine the cause, we will resume services.
HTX and Heco Cross-Chain Bridge Undergo Hacker Attack. HTX Will Fully Compensate for HTX's hot wallet Losses. Deposits and Withdrawals Temporarily Suspended. All Funds in HTX Are Secure, and the Community Can Rest Assured. We are investigating the specific reasons for the hacker…
— H.E. Justin Sun 孙宇晨 (@justinsuntron) November 22, 2023
Hackers stole these 8 altcoin tokens in the attack
Initially, PeckShield issued an alert pointing to a transaction in which 10,145 Ether worth approximately $19 million was transferred across the bridge. This was followed by several other transactions with digital assets such as USD Coin (USDC). Attackers transferred USDC, Chainlink (LINK), Shiba INU (SHIB) and more to other addresses. PeckShield later made an update and shared the breakdown of 8 altcoin tokens seized by hackers. In this regard, the altcoin projects subject to suspicious transactions worth $ 86.6 million are:
- 346.994 TUSD
- 42,399 LINK
- 619,000 USDC
- 173,200 UNI
- 346.9 million SHIB (approximately $2.8 million)
- 489 HBTC ($18.8 million)
- 42 million USDT
- 10,145 ETH (approximately $19 million)
Justin Sun couldn’t escape the hacking trouble!
As you follow from Kriptokoin.com, HTX Eco Chain (HECO) was officially launched on December 21, 2020 to provide a cross-chain experience with lower gas fees. Sun combined both ecosystems into HECO in 2022. So, the project was a merger between Tron and BitTorrent’s bridge ecosystem.
The latest HECO Chain attack is the second exploit to occur in a Sun-related project. On November 10, another of Sun’s exchanges, Poloniex, suffered a $100 million exploit. Security analysts claim that the attackers captured private keys in this incident.
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