Crypto News

HTX and Heco Chain Hacked, Resulting in $97 Million Theft

HTX and Heco Chain Exploited in Heist

Cryptocurrency exchanges HTX and Heco Chain, both associated with Justin Sun, were hacked, resulting in a staggering $97 million loss.

Justin Sun assured users that HTX would compensate them for any losses incurred as a result of the breach. All deposits and withdrawals on the platforms are currently suspended while investigations into the root cause of the security breach continue.

“We’re actively investigating the hack,” Sun said in a statement, “and once we identify the cause, we will resume our services.”

A blockchain security firm discovered $85 million in suspicious transactions linked to the hack, indicating a breach of the Heco bridge’s private key.

This incident comes on the heels of an $8 million attack on the Heco Chain in October, which resulted in the theft of 500 Ether. Users were promptly compensated for their losses by HTX.

These recent hacking incidents highlight the ongoing security challenges that cryptocurrency platforms face. They emphasize the critical importance of strong security measures and quick response mechanisms to protect users’ assets.

As the crypto industry evolves, such incidents serve as a crucial reminder for both investors and platforms to prioritize security in order to maintain trust and stability in the rapidly changing crypto landscape.

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