Cybers detects a suspicious movement of $50 million HXA:
- Cybers detects a suspicious movement of $50 million HXA.
- A link is established with the address of the KyberSwap exploiter.
- MEXC temporarily suspends deposits and withdrawals in HXA.
The End of the HXA Crypto Project?
The Cybers platform, focused on on-chain security, recently detected a suspicious movement of $50 million in HAXcoin (HXA), the native utility token of the Herencia Artifex project.
The tokens were subsequently transferred to dozens of different external wallets (EOA).
This movement is directly linked to the crypto address of the KyberSwap exploiter, a decentralized exchange that was hacked for $47 million in November, targeting the protocol’s liquidity providers.
The wallets controlled by the attacker(s) are considered the “main holders of HXA tokens“.
According to Cybers, the exploiters acquired these tokens through an Ethereum address using the “transferfrom” function, commonly used in decentralized applications. However, this function can have security vulnerabilities if used incorrectly.
MEXC Suspends Deposits and Withdrawals of HXA
According to Cybers, the vulnerability stems from the smart contracts, particularly in the “Multicall” function that handles HXA token transactions.
In response to this incident, the MEXC exchange has been forced to temporarily suspend deposits and withdrawals of HXA tokens. According to their statement released on December 10th, this suspension is not directly related to the hack but rather to the “abnormal on-chain behavior of HXA.”
But that’s not all, as the official HXAcoin website is currently inaccessible, leaving investors and stakeholders without official information or updates.
The HXA Token in Freefall
As news about HXA was becoming increasingly concerning, the token’s price suddenly collapsed.
As seen in the image, within a matter of minutes, the cryptocurrency experienced a roughly 90% drop in its value and shows no signs of recovery, at least for now.
