Crypto Exchange HTX, Blockchain Protocol Heco Chain Drained of $85M in Exploit

9 views 7:31 am 0 Comments December 7, 2023

Justin Sun, an investor in Hex confirmed the hack in a post on X. Onchain data provider Arkham Intelligence is offering a bounty to identify the source of the hack.

HTX and Heco chain suffered an exploit.

Crypto trading platform HTX and cross chain bridge Heco suffered an attack on Wednesday morning (ET) leading to a combined loss of $85 million.

Justin Sun, the Tron founder, and an investor in HTX (formerly called Huobi), confirmed the hack in a post on X (formerly Twitter), adding that HTX had “temporarily suspended” deposits and withdrawals, and that “All Funds in HTX Are Secure.”

“We are investigating the specific reasons for the hacker attack,” Sun wrote. “Once we complete the investigation and identify the cause, we will resume services.”

Onchain data provider Arkham Intelligence is offering a bounty “to help identify the person or organization behind today’s @HTX_Global heco bridge attack.”

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

Onchain analysts Cyvers initially reported $85 million in suspicious transfers early Wednesday. Blockchain security firms Peckshield and CertiK also noted these suspicious movements, which first involved 10,145 ETH, but later included LINK and other tokens.

🚨Code Red!🚨 (Ongoing)Our AI powered system has detected multiple suspicious transactions from @HECO_Chain bridge

Suspicious address has received around $85M. Suspicious address: https://t.co/JlMClIM7hg

First transaction is 10,145 $ETH from @HECO_Chain bridge to suspicious… pic.twitter.com/IwpqXvhCsU

— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) November 22, 2023

Cyvers said in a separate post that three hot wallets “belonging to HTX had been impacted by today’s incident.” HTX suffered an exploit in October that led to the loss of about 600 ether, roughly $8 million. Sun wrote at the time on X that HTX had covered the losses and that funds were safe.

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