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 <p class="is-style-lead">In a Nov. 22 post from the cybersecurity firm Cyvers Alerts, it was reported that a suspicious address received $12.4 million from HTX exchange.</p>
 <p>At the same time, another address accumulated approximately $85 million from HECO Chain bridge, both linked to Justin Sun’s business ventures.</p>
 <p>Taken together, the alert suggests that Justin Sun’s Poloniex, a prominent <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency exchange, is now facing the results of a loss of more than $100 million in various <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies.</p>
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    <p lang="en" dir="ltr">Code Red! (Ongoing)Our AI powered system has detected multiple suspicious transactions from @HECO_Chain bridge <br><br>Suspicious address has received around $85M. Suspicious address: https://t.co/JlMClIM7hg<br><br>First transaction is 10,145 $ETH from @HECO_Chain bridge to suspicious… pic.twitter.com/IwpqXvhCsU</p>— Cyvers Alerts (@CyversAlerts) November 22, 2023
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 <p>Additional data from&nbsp;Arkham Intelligence&nbsp;highlights that HECO Chain Bridge transferred a large number of Tokens to the empty address 0xFc146D1CaF6Ba1d1cE6dcB5b35dcBF895f50B0C4, including 42.11 million USDT, 10,000 ETH, 489 BTC and other assets exceeding US$84 million.</p>
 <p>USDT and BTC were transferred to DEX, such as Uniswap and 1inch, and converted to ETH and sent to new addresses, in what is the fourth <a rel="noopener noreferrer nofollow" title="recent" href="https://thebittimes.com/tag/recent.html">recent</a> theft of Justin Sun projects.</p>
 <p>Just under two weeks earlier, the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency exchange Poloniex suffered another attack on its hot wallets, which resulted in the loss of over $120 million in <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> assets across the Bitcoin, Ethereum and Tron networks.</p>
 <p>In response, Justin Sun took to&nbsp;Etherscan&nbsp;with the announcement of a white hat reward in the amount of $10 million for the return of the stolen funds.</p>
 <p>Unfortunately, being that is just one in a string of events, many investors are now being urged to proceed with caution for the ongoing code red.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Solana’s Phantom wallet rolls out cross-chain swapper to bring liquidity from Ethereum
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/justin-sun-s-cryptocurrency-venture-loses-over-100m-in-recent-hack-tbt71238.html">https://thebittimes.com/justin-sun-s-cryptocurrency-venture-loses-over-100m-in-recent-hack-tbt71238.html</a></p>

Justin Sun’s cryptocurrency venture loses over $100m in recent hack

TheBitTimes

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