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Heco Bridge and HTX Exchange Hit by Hack

The Heco Bridge Hacked, Losing $86.6 Million

In a recent cyber security breach, the Heco Bridge, which facilitates the transfer of funds between Ethereum and Heco Chain, appears to have been drained of $86.6 million. Wintermute’s research lead, Igor Igamberdiev, and analysts from PeckShield have confirmed the loss, noting that the stolen funds were quickly transferred to decentralized exchanges and converted into other tokens. PeckShield and Cyvers have expressed concerns about a potential hack or rug pull.

In addition to the Heco Bridge hack, there are indications of a separate attack on the HTX cryptocurrency exchange. Igor Igamberdiev highlighted suspicious transfers totaling $23.4 million, sharing similar patterns to the Heco Bridge incident. These transactions occurred shortly after the bridge hack. In response, HTX started transferring assets from a hot wallet to a recovery wallet, suggesting efforts to secure the remaining funds.

HTX Suspends Withdrawals

Following these security breaches, HTX seems to have suspended withdrawals from the exchange, as evidenced by Arkham’s data. This measure is likely aimed at preventing further unauthorized withdrawals and stabilizing the exchange’s financial situation after the incidents.

Justin Sun has promised that HTX will compensate for the losses from the exchange hack, without mentioning any planned compensation for bridge users.

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