Tron founder Justin Sun’s crypto business has been hit by multiple hackers over the past two months, including at least four of the largest attacks on platforms associated with the crypto entrepreneur.
Sun’s HTX cryptocurrency exchange has been hacked at least twice since it was rebranded from the Huobi platform on September 13, 2023. The first HTX hack occurred just days after the name change, with an unknown attacker stealing nearly $8 million in cryptocurrency on September 24, 2023.
In a second hack, HTX reportedly lost $13.6 million due to a hot wallet leak, an incident that affected the broader HTX, Tron, and BitTorrent ecosystems. HTX was formerly known as Huobi, acquired Published by Sun in October 2022.
Hackers also focused on other Sun-related cryptocurrency platforms, including Sun-owned cryptocurrency exchange Poloniex and Huobi’s HTX Eco-Chain (HECO) bridge.
On November 10, Poloniex suffered a major security breach, and attackers stole at least $100 million in cryptocurrency from the exchange. Sun acquired the business in 2019 and reported on X (formerly Twitter) that Poloniex had disabled the wallet. According to blockchain security company CertiK, the incident was likely a “private key leak.”
Huobi’s HECO chain bridge, a tool designed to transfer digital assets between HECO and other networks such as Ethereum, also suffered a massive breach. On November 22, unidentified hackers compromised HECO and sent at least $86.6 million to suspicious addresses.
Across all four hacks in the past two months, the platforms lost a total of approximately $208 million. Although Tron founder Sun promised to compensate for losses in all four incidents, some cryptocurrency enthusiasts urged the community to stay away from Poloniex and HTX, with some questioning who might have been involved in the hacks.
One crypto observer thinks Sun is “clearly in big trouble,” noting that Poloniex has been shut down for five days, HTX discount Enjoy 100% interest on cryptocurrencies such as Bitcoin.
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HTX did not immediately respond to Cointelegraph’s request for comment.
A few months ago, the U.S. Securities and Exchange Commission filed a civil lawsuit against Tron founder Sun, accusing him and his companies, including Tron and BitTorrent, of fraud and other violations of securities laws.
The U.S. court subsequently issued a subpoena to Sun’s Singapore address in April 2023 in connection with the case. August, SEC explain Its lawsuit against Sun is ongoing.
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