The Heco Bridge, an interchain project associated with Justin Sun, is reportedly the target of malicious activities, as online investigators have identified suspicious fund transfers totaling $85 million. Cyvers Alerts, an on-chain security platform, reported that it has detected an additional $12.4 million exploitation from another venture linked to Sun, the HTX exchange.
Code Red! (Ongoing)Our AI-powered system has detected multiple suspicious transactions from the HECO_Chain bridge. A suspicious address has received around $85 million. Suspicious address: https://etherscan.io/address/0xfc146d1caf6ba1d1ce6dcb5b35dcbf895f50b0c4… The first transaction is 10,145 ETH from the HECO_Chain bridge to a suspicious address. Justin Sun, have a look! More investigations will come!
A red alert was issued through an AI-powered system, revealing multiple suspicious transactions from the HECO_Chain bridge. Approximately $85 million was transferred to an address marked as suspicious. The first transaction involved 10,145 ETH from the HECO_Chain bridge to the said address, prompting online sleuths to call on Justin Sun for attention. Ongoing investigations are underway to unveil more details.
Cyvers Alerts’ tweet sounded the alarm, highlighting a series of attacks on projects associated with TRON founder Justin Sun. In 2022, Sun announced plans to integrate Huobi’s HECO [also known as Huobi Eco Chain] with the Tron and BitTorrent ecosystems. HTX, formerly known as Huobi, is an internationally rebranded exchange, advised by Justin Sun.
Responding to the security breach, Justin Sun released a statement acknowledging a hacker attack on HTX and Heco Cross-Chain Bridge. He assured the community that HTX would fully compensate for losses from the hot wallet, and although deposits and withdrawals are temporarily suspended, all funds in HTX are secure. The investigation into the specific reasons for the attack is ongoing, and services will resume once the cause is identified.
Justin Sun’s HTX Has Initiated Recovery Process
In a subsequent update, Cyvers Alerts reported that HTX_Global had transferred the remaining assets to their “Huobi Recovery” address. HTX reaffirmed its commitment to fully compensating for losses from the hot wallet, while temporarily suspending deposits and withdrawals.
The incident adds to a series of cybersecurity challenges faced by projects affiliated with Justin Sun. Earlier, Poloniex, another exchange backed by Sun, experienced a security compromise resulting in losses exceeding $120 million. The alleged hacker, utilizing a Tron chain address, executed significant asset transfers, including $21.73 million in USDT, $14.05 million in BTC, $3.65 million in USDD, and $1.78 million in USDC, totaling over $42.83 million, with only $6.54 million currently frozen.