Data shared by blockchain security platform PeckShield shows that more than $86.6 million in digital assets were transferred from the HECO Chain bridge to suspicious addresses. The security company said the bridge had been compromised and an attack was underway.
In response to this incident, Tron founder Justin Sun announced that HTX will fully compensate users for any losses suffered due to hacking attacks. The company has also temporarily suspended deposits and withdrawals while it investigates the incident. The official said services would be restored after the investigation is completed.
HTX and Heco cross-chain bridges were attacked by hackers. HTX will fully compensate HTX hot wallet losses. Deposits and withdrawals are suspended. All HTX funds are safe and the community can rest assured. We are investigating the exact cause of the hack…
— HE Justin Sun Sun Yuchen (@justinsuntron) November 22, 2023
Initially, PeckShield issued an alert stating that a transaction moved 10,145 ether (ETH), worth approximately $19 million, off the bridge. Several other transactions followed, such as USD Coin (USDC), Chainlink (LINK), Shiba INU (SHIB) and other digital assets being transferred to other addresses.
#PeckShieldAlert Suspicious huge withdrawal of 10,145 $ETH (approximately $19 million) from #Heco_Bridge. @justinsuntron
Note that tx is initiated by the operator. Looks like a damaged operator? pic.twitter.com/th4Ui0FO3A
— PeckShieldAlert (@PeckShieldAlert) November 22, 2023
The HTX ecological chain, referred to as HECO, was officially launched on December 21, 2020, providing a cross-chain experience with lower gas costs. The project is a merger of the Tron and BitTorrent bridging ecosystems, which Sun will merge into HECO in 2022.
related: Poloniex says hacker identity has been identified, final reward is $10 million
The recent HECO Chain hack is the second attack on a Sun-related project. On November 10, Poloniex, an exchange acquired by Sun in 2018, suffered a $100 million attack. Security analysts believe that the incident may have been caused by the leakage of private keys.
Magazine: $3.4B worth of Bitcoin in popcorn jars: The story of the Silk Road hacker
Svlook
