Over $100,000,000 in Ethereum, Shiba Inu, Chainlink and Other Crypto Assets Drained From Justin Sun-Linked Firms – Crypto News – Crypto News
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Over $100,000,000 in Ethereum, Shiba Inu, Chainlink and Other Crypto Assets Drained From Justin Sun-Linked Firms Over $100,000,000 in Ethereum, Shiba Inu, Chainlink and Other Crypto Assets Drained From Justin Sun-Linked Firms

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Over $100,000,000 in Ethereum, Shiba Inu, Chainlink and Other Crypto Assets Drained From Justin Sun-Linked Firms – Crypto News

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3 years ago

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New data reveals that hundreds of millions of dollars worth of altcoins have been drained from firms linked to Tron (TRX) founder Justin Sun.

According to data from blockchain tracker Lookonchain, during the past 20 days, five major hacks have occurred, totaling $290 million worth of stolen funds.

Two of the protocols hit – crypto exchange HTX and Heco Bridge, a bridge used to move funds between Ethereum (ETH) and energy-saving blockchain Heco Chain – are linked to Sun, the current owner of digital assets exchange Poloniex.

According to cybersecurity firm Cyvers, the protocols were hacked to the tune of a combined $100 million – $86 million of which came from the Heco Bridge.

“We have flagged multiple suspicious transactions from HECO Chain bridge today. All the assets of HECO Chain [have] been swapped for ETH and distributed to different EOAs (externally owned accounts).

Assets transferred: 42 million USDT, 489 HBTC, 346 billion SHIB, 173,000 UNI, 619,000 USDC, 42,000 LINK and 347,000 TUSD. All together, we estimated around $86 million loss.”

Cyvers also details how HTX’s hot wallet was exploited.

“Two hot wallets of HTX Global have been impacted by this incident, involving 1,240 ETH, 7.3 million USDT, 1.78 million USDC, and 62,200 LINK. Hacker has distributed all the assets to different EOAs with 1 ETH for gas fee per each address. Then transferred all ETH to [other] EOAs.”

According to Sun, all HTX customer funds are secure but withdrawals and deposits will be temporarily suspended. Sun says services will resume once they find the specific reason for the hack.

“HTX and Heco Cross-Chain Bridge undergo hacker attack. HTX will fully compensate for HTX’s hot wallet losses. Deposits and withdrawals temporarily suspended.

All funds in HTX are secure, and the community can rest assured. We are investigating the specific reasons for the hacker attack. Once we complete the investigation and identify the cause, we will resume services.”

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