Cryptocurrency exchange HTX (Huobi) and the Heco Chain blockchain protocol have been hit by a hacker attack that resulted in the theft of $110 million in crypto assets, including 346 billion Shiba Inu tokens.
Cyvers Alerts, a cybersecurity platform, was the first to notice several suspicious transactions related to Justin Sun's company, the HTX exchange, and HECO Bridge.
"Our artificial intelligence-based system detected several suspicious transactions from the HECO Chain bridge. Approximately $85 million was transferred to the suspicious address," the platform said in a statement.
According to Wintermute's head of research and PeckShield analysts, $86.6 million was stolen from the Heco Chain and $2Z.4 million was stolen from the HTX cryptocurrency exchange. The funds were immediately sent to decentralized exchanges and exchanged for other tokens.
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Justin Sun, founder of the HTX cryptocurrency exchange, confirmed the hack in a recent post on X (Twitter) and assured that the losses suffered by users will be compensated.
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Following the incident, the cryptocurrency exchange suspended all deposits and withdrawals on its platform. In addition, HTX said that a team has now been assembled and has begun investigating the exploit.
It's worth noting that the HECO Bridge hack on November 22 was the third exploit in the past two months to affect companies associated with Justin Sun.
Recall that in late September, the HTX exchange's hot wallet was hacked, resulting in the theft of 5,000 ETH worth about $8 million, and in early November, the Poloniex exchange was attacked by hackers, causing $10 million in damage. Justin Sun owns a majority stake in Poloniex.
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