In a recent development observed by onchain alerts, the entity responsible for exploiting the Heco bridge and siphoning off millions in ethereum late in November 2023 from the conduit bridge connecting Ethereum and the Heco blockchain, transferred 40,391.8 ether to the mixing platform Tornado Cash. Heco Bridge Exploiter Transfers Millions Worth of Ether to Tornado […]
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Tron’s Justin Sun Announces ‘Epic Airdrop’ in Wake of HTX, Heco, and Poloniex Hacks
In the aftermath of September’s HTX breach, along with the subsequent attacks on Poloniex and Heco Bridge in November, HTX faced yet another security breach on November 23, resulting in a loss of million. HTX announced its commitment to “fully compensate” for the financial damages caused by the hack. Additionally, on Friday, Tron’s founder, Justin Sun, declared on the social media platform X that not only would the losses be recouped, but the team also intends to launch an “epic airdrop.”
Justin Sun’s Response to Several Hacks — An ‘Epic Airdrop’ in the Pipeline
Since late September, three cryptocurrency platforms associated with Tron’s Justin Sun — HTX, Poloniex, and Heco Bridge — have experienced security breaches, cumulatively losing millions. On September 25, 2023, Sun revealed that HTX suffered a breach, resulting in the loss of 5,000 ether, valued at approximately million at the time.
Following this, on November 10, 2023, Poloniex faced a security lapse, leading to a loss of around 4 million. Barely 12 days passed before another attack hit HTX’s Heco Chain, with hackers siphoning off .6 million from the cross-chain bridge platform.
Subsequently, HTX reported a million loss due to a hacking incident the next day, assuring its users of full reimbursement. HTX emphasized that this loss was “extremely small compared to the total funds of the platform.” On Friday, Sun turned to social media, informing his 3.4 million followers on X that both exchanges were set to resume deposits and withdrawals after a temporary suspension.
Additionally, the co-founder of Tron outlined that a new token would emerge from this incident. Sun said:
As HTX and Poloniex approach opening [deposits and withdrawals], we will initiate an epic airdrop for users with assets. Please stay tuned! My deepest apologies to the users affected by the hacker attacks on HTX and Poloniex. We will cover the loss and All assets [are] SAFE.
Poloniex has announced that it anticipates the resumption of withdrawals and deposits on November 30, 2023. The exchange advised its users to utilize new deposit addresses, rather than relying on previously used ones. On Friday at noon Eastern Time (ET), HTX reinstated Tron deposits and withdrawals, following the temporary halt.
What do you think about Justin Sun’s response to the HTX and Poloniex hacks? Share your thoughts and opinions about this subject in the comments section below.
Heco Bridge Breach Drains $86 Million — Justin Sun’s HTX-Linked Venture Faces Major Security Setback
Numerous sources have reported that the Heco Bridge, a cross-chain conduit linking Ethereum with the Heco blockchain, has suffered a security breach, resulting in a loss of million. Subsequent to the heist, the stolen funds were redirected to various decentralized exchange (dex) platforms.
Major Million Theft Hits Heco Bridge
In a recent setback for a venture linked to Tron’s creator, Justin Sun, it’s estimated that to million has been drained from the Heco Bridge. Blockchain security firms Cyvers and Peckshield raised the alarm about this breach, stating, “Our initial analysis indicates the suspicious .6m outflow from Heco Chain bridge was from a compromised operator, which was operational since [October 8, 2022].”
In a strategic move in 2022, Sun combined HTX’s Heco Chain with the Tron and Bittorrent blockchains, aiming to foster a more integrated platform and promote cooperation between developers from Heco, Tron, and Bittorrent. Recently, Sun’s ventures have been recurrent targets of significant cyber attacks, including the HTX (formerly Huobi) hack, the Poloniex breach, and the latest Heco Chain incident.
Currently, the perpetrator’s wallet holds 30,949 ether, valued at .83 million, which is only a portion of the total stolen amount. As of 9:00 a.m. Eastern Time on November 22, 2023, there has been no update from Heco Chain’s X account regarding the situation. However, Sun has addressed the issue on social media, revealing that HTX is preparing to compensate for the lost funds.
“HTX will fully compensate for HTX’s hot wallet Losses,” Sun wrote. “Deposits and withdrawals [are] 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.”
Why do you think Justin Sun-linked projects are being attacked? Share your thoughts and opinions about this subject in the comments section below.