HECO Chain Bridge Over $86.6M Sent to Suspicious Addresses
According to data shared by blockchain security platform PeckShield, more than $86.6 million in digital assets were transferred from the HECO Chain Bridge to suspicious addresses. The security firm points out that the bridge is damaged and exploitation continues.
In response to the incident, Tron founder Justin San announced that HTX would fully compensate users for any losses incurred as a result of the hack. The company has temporarily suspended deposits and withdrawals while it investigates the matter. The executive said services will resume after the investigation is complete.
HTX and Heco Cross Chain Bridge were hacked. HTX will fully compensate for the loss of HTX Hot Wallet. Deposits and withdrawals are temporarily suspended. All funds in HTX are safe, and the community can rest assured. We are investigating the hacker's specific motives…
— HE Justin Sun Sun Yuchen (@justinsuntron) November 22, 2023
Initially, PeckShield published an alert indicating a transaction in which 10,145 Ether (ETH), worth approximately $19 million, was transferred from the bridge. Many other transactions followed, with digital assets such as USD Coin (USDC), Chainlink (LINK), Shiba INU (SHIB) and others transferred to other addresses.
#PeckShieldAlert Suspicious Huge 10,145 $ETH (~$19m) withdrawal from #Heco_Bridge. @justinsuntron
Note that tx is initialized by the operator. Sounds like a hacked operator? pic.twitter.com/th4Ui0FO3A
— PeckShieldAlert (@PeckShieldAlert) November 22, 2023
HTX Eco Chain or HECO was officially launched on December 21, 2020 to provide a cross-chain experience of lower gas charges. The project is a merger between Tron and BitTorrent's bridge ecosystem, with Sun merging both ecosystems into HECO by 2022.
RELATED: Poloniex Says Hacker's Identity Verified, Offers Final Reward $10M
The recent HECO Chain hack is the second latest exploit of a solar-related project. On November 10, in 2018, Poloniex, an exchange acquired by the Sun, received an exploitation of 100 million dollars. Security analysts believe the incident may have been caused by the use of private keys.
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