HTX, Formerly Huobi, Lost $13.6M as Part of HECO Chain Bridge Exploit, Justin Sun Promises Full Refund
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HTX, Formerly Huobi, Lost $13.6M as Part of HECO Chain Bridge Exploit, Justin Sun Promises Full Refund

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Created 3mo ago, last updated 3mo ago

HTX, formerly known as Huobi Global, suffered a significant loss of approximately $13.6 million in an exploit that targeted the HECO Chain bridge on November 22.

HTX, Formerly Huobi, Lost $13.6M as Part of HECO Chain Bridge Exploit, Justin Sun Promises Full Refund
HTX, formerly known as Huobi Global, suffered a significant loss of approximately $13.6 million in an exploit that targeted the HECO Chain bridge on November 22, with the overall exploit amounting to $86.6 million. Blockchain security firm Cyvers revealed that the loss was a result of three compromised hot wallets, leading to the conversion of user and exchange assets into Ether (ETH), which were subsequently distributed to different Ethereum addresses. The attack specifically impacted 1,240 ETH, 7.3 million USDT, 1.78 million USD Coin, and 62,200 LIN tokens.
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Justin Sun, the de-facto owner of HTX and the founder of Tron and BitTorrent, stated that HTX would fully compensate for the losses and temporarily suspend deposits and withdrawals. Sun emphasized the security of all funds held in HTX.

Earlier that day, the HECO Chain bridge, which was established through the integration of the Tron and BitTorrent ecosystems in 2020, suffered an $86.6 million drain, allegedly due to a compromise involving the blockchain operator.

This incident follows a previous hot wallet exploit in September when HTX experienced a hack resulting in $8 million in losses. At that time, Sun assured users that their assets were secure, and the platform was functioning normally.

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