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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.
At the same time, another address accumulated approximately $85 million from HECO Chain bridge, both linked to Justin Sun’s business ventures.
Taken together, the alert suggests that Justin Sun’s Poloniex, a prominent cryptocurrency exchange, is now facing the results of a loss of more than $100 million in various cryptocurrencies.
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 🚨Code Red!🚨 (Ongoing)Our AI powered system has detected multiple suspicious transactions from <a href="https://twitter.com/HECO_Chain?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@HECO_Chain</a> bridge Suspicious address has received around $85M. Suspicious address: <a href="https://t.co/JlMClIM7hg" target="_blank" rel="noopener noreferrer nofollow">https://t.co/JlMClIM7hg</a> First transaction is 10,145 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a> from <a href="https://twitter.com/HECO_Chain?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@HECO_Chain</a> bridge to suspicious… <a href="https://t.co/IwpqXvhCsU" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/IwpqXvhCsU</a>— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) <a href="https://twitter.com/CyversAlerts/status/1727276003196600539?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 22, 2023</a>
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You might also like: <a href="https://crypto.news/polars-pol-blockchain-prediction-marketplace-heco-chain/" rel="noopener noreferrer nofollow"> Polars (POL) Blockchain-Based Prediction Marketplace Launches on HECO Chain </a>
Additional data from&nbsp;<a href="https://platform.arkhamintelligence.com/explorer/address/0xA929022c9107643515F5c777cE9a910F0D1e490C" target="_blank" rel="noopener noreferrer nofollow">Arkham Intelligence</a>&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.
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 recent theft of Justin Sun projects.
Just under two weeks earlier, the cryptocurrency exchange Poloniex suffered another attack on its hot wallets, which resulted in the loss of over $120 million in crypto assets across the Bitcoin, Ethereum and Tron networks.
In response, Justin Sun took to&nbsp;<a target="_blank" href="https://etherscan.io/idm?addresses=0x176f3dab24a159341c0509bb36b833e7fdd0a132,0x6ce8c5ad1339fb9d7e40f0f4e234e7ca847163de&amp;type=1" rel="noopener noreferrer nofollow">Etherscan</a>&nbsp;with the announcement of a white hat reward in the amount of $10 million for the return of the stolen funds.
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.
Read more: <a href="https://crypto.news/solanas-phantom-wallet-rolls-out-cross-chain-swapper-to-bring-liquidity-from-ethereum/" rel="noopener noreferrer nofollow"> Solana’s Phantom wallet rolls out cross-chain swapper to bring liquidity from Ethereum </a>

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

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