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<p>The post <a href="https://coinpedia.org/news/massive-crypto-hack-hits-htx-and-heco-bridge-97-million-lost/">Massive Crypto Hack Hits HTX and HECO Bridge: $97 Million Lost</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The cryptocurrency sector experienced a significant setback when a coordinated hack hit the HTX exchange and the Heco Cross Chain bridge. This breach resulted in a combined loss of approximately $97 million in various cryptocurrencies. The incident has put the spotlight on the vulnerabilities facing digital asset platforms.</p> 
<h3 class="wp-block-heading" id="h-justin-sun-s-swift-response-to-the-crisis">Justin Sun’s Swift Response to the Crisis</h3> 
<p>Justin Sun, a prominent figure in the crypto world and an investor in HTX, confirmed the breach and immediately addressed the situation. He assured that HTX would fully reimburse the users affected by the hack. To protect the remaining assets, Sun temporarily suspended all deposits and withdrawals on HTX, highlighting the gravity of the situation.</p> 
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   <p lang="en" dir="ltr">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…</p>— H.E. Justin Sun 孙宇晨 (@justinsuntron) <a href="https://twitter.com/justinsuntron/status/1727304656622326180?ref_src=twsrc%5Etfw">November 22, 2023</a>
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<h3 class="wp-block-heading" id="h-details-of-the-hack-a-deep-dive-into-the-losses">Details of the Hack: A Deep Dive into the Losses</h3> 
<p>The hack on HTX led to a substantial loss of digital assets, including 1,240 Ethereum, 7.3 million Tether, 1.78 million USD Coin, and 62,200 Chainlink, totalling around $13 million. In a parallel attack on the HECO bridge, various cryptocurrencies were converted to Ethereum and scattered across different addresses, leading to an estimated loss of $86 million.</p> 
<h3 class="wp-block-heading" id="h-security-firm-cyver-s-analysis-a-potential-key-leak">Security Firm Cyver’s Analysis: A Potential Key Leak</h3> 
<p>Using their AI-powered monitoring systems, blockchain security experts at Cyver detected unusual activities suggesting a serious breach. Their analysis points to a possible leak of private keys as the root cause, allowing the hackers access to the bridge between Heco Chain and Ethereum for illicit transfers.</p> 
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">UPDATE<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">Today, we have flagged multiple suspicious transactions with <a href="https://twitter.com/HTX_Global?ref_src=twsrc%5Etfw">@HTX_Global</a>'s hot wallet. Shortly, hack was confirmed by <a href="https://twitter.com/justinsuntron?ref_src=twsrc%5Etfw">@justinsuntron</a> <br><br>Two hot wallets of <a href="https://twitter.com/HTX_Global?ref_src=twsrc%5Etfw">@HTX_Global</a> have been impacted by this incident, involving 1,240 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>, 7.3M <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDT</a>, 1.78M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a>, and 62.2K <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a>… <a href="https://t.co/68psfCztqs">https://t.co/68psfCztqs</a> <a href="https://t.co/EEPbh6Zhl0">pic.twitter.com/EEPbh6Zhl0</a></p>— 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> Cyvers Alerts 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@CyversAlerts) <a href="https://twitter.com/CyversAlerts/status/1727321126471090346?ref_src=twsrc%5Etfw">November 22, 2023</a>
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<h3 class="wp-block-heading" id="h-pattern-of-security-issues-in-justin-sun-s-ventures">Pattern of Security Issues in Justin Sun’s Ventures</h3> 
<p>The recent hacks are not standalone incidents but part of a concerning trend in blockchain projects associated with Justin Sun. The repeated security breaches, including a major exploit at Poloniex, another Sun-owned exchange, have fueled speculation about potential insider complicity and raised questions about Sun’s management of these platforms.</p> 
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   <p lang="en" dir="ltr">BREAKING: JUSTIN SUN EXIT SCAMS AGAIN. <br><br>Two other platforms owned by Justin Sun have just had ANOTHER $100+ million mysteriously drained from them: the HTX (Huobi) exchange and Heco bridge. <br><br>Justin Sun is again claiming it is a "hack" – Just like he did last week when his… <a href="https://t.co/U1j6YyO7Jy">pic.twitter.com/U1j6YyO7Jy</a></p>— WhaleWire (@WhaleWire) <a href="https://twitter.com/WhaleWire/status/1727343379032223759?ref_src=twsrc%5Etfw">November 22, 2023</a>
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<h3 class="wp-block-heading" id="h-concluding-remarks-the-path-forward-for-htx-and-associated-ecosystems">Concluding Remarks: The Path Forward for HTX and Associated Ecosystems</h3> 
<p>While HTX has committed to compensating the affected users, the impact of these hacks extends beyond immediate financial losses. They have significantly dented user confidence and raised crucial questions about the security and stability of cryptocurrency platforms. It is imperative for HTX and its related Tron and BitTorrent ecosystems to urgently address these security vulnerabilities to regain trust and ensure the safety of their users’ assets.</p>

Massive Crypto Hack Hits HTX and HECO Bridge: $97 Million Lost

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