Theft of $110 Million in Cryptocurrencies Hits Digital Asset Network

In a massive cybersecurity incident, projects affiliated with the pioneer in digital assets,
Justin Sun, fell victim to two separate attacks.
The cryptocurrency exchange “HTX” (HTX) and the “HECO Bridge” were breached,
resulting in losses exceeding $110 million.

Topic
the details
Conclusion

the details

Confirmation came through a tweet from Justin Sun on Wednesday,
where he affirmed that the HTX exchange had temporarily halted deposit
and withdrawal operations while an investigation is underway.
Another statement from the exchange spokesperson confirmed
that around $30 million worth of cryptocurrencies were stolen from its wallet.

In a separate development, CryptoQuant, a research company,
reported a loss of over $85 million in Ether and other tokens due to a breach of the HECO Bridge.
Despite the independence of HECO Bridge from the HTX exchange,
both suffered simultaneous cyberattacks.

As of now, there has been no official comment from HECO Bridge,
and more details are expected to be revealed after the completion of investigations into the twin attacks.

Conclusion

These incidents come shortly after the announcement by Poloniex,
another cryptocurrency exchange supported by Justin Sun,
revealing a similar security breach resulting in the theft of over $100 million.
Additionally, HTX incurred losses of $8 million due to a security breach in September.

Justin Sun stated in a post on the former “X” platform, now known as Twitter,
that HTX would fully compensate for the losses from its wallet and
affirmed the resumption of services once the investigation concludes and
the reasons behind these massive cyberattacks are identified.

Theft of $110 Million in Cryptocurrencies Hits Digital Asset Network

Theft of $110 Million in Cryptocurrencies Hits Digital Asset Network

Related Topics