HTX exchange loses $13.6M in hot wallet hack: Report

Must read

MI vs UPW Match Prediction: Who will win today’s WPL 2024 match?

Two teams have tried to beat the Mumbai Indians (MI) in the 2024 edition of the Women's Premier League (WPL), and...

“Bro misses his wife and kids”: Damian Lillard being ‘lonely’ after Bucks trade amid divorce battle evokes NBA fans’ sympathy

Damian Lillard made it explicitly clear that he feels "lonely" in Milwaukee in a recent interview. The...

“We have all made mistakes”: Love is Blind star Chelsea reacts to ex Trevor’s secret relationship allegation

Love is Blind star Chelsea Blackwell has extended support to her pod ex Trevor Sova after allegations that he had a...

“I’d doubt that I’ll be captaining that long” – Pat Cummins ponders captaincy future to prolong his playing career

Australian captain Pat Cummins remains unsure of leading the country for the rest of his playing career....

The incident affected the greater HTX, Tron, and BitTorent ecosystem.

657 Total views

3 Total shares

HTX exchange loses $13.6M in hot wallet hack: Report

HTX, formerly Huobi Global, suffered an estimated loss of $13.6 million as part of the $86.6 million HECO Chain bridge exploit on Nov. 22. 

According to a report by blockchain security firm Cyvers, the losses stem from three compromised hot wallets with users and exchange assets swapped for Ether and distributed to various Ethereum addresses thereafter. Among other coins and tokens, Cyvers says that 1,240 Ether (ETH), 7.3 million Tether (USDT), 1.78 million USD Coin (USDC), and 62,200 Chainlink (LINK) were drained during the attack. 

Justin Sun, de-facto owner of HTX and founder of Tron and BitTorrent, both related entities, stated shortly after the exploit that “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.”

Earlier in the day, the HECO Chain bridge, a cross-chain bridge created via the merging of the Tron and BitTorrent ecosystem in 2020, was drained of $86.6 million due to an allegedly compromised blockchain operator

In September, HTX was hacked for $8 million in another hot wallet exploit. At the time, Sun also claimed that “all user assets are SAFU and the platform is operating completely normally.” The hack took place less than one month after its rebranding from Huobi Global to HTX, as announced during Token2049 in Singapore. 

Data from Nansen show that wallets identified as belonging to HTX hold a combined $2.08 billion in user and corporate assets. Within the past 24 hours, the exchange had $1.3 billion in spot trading volume.

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…

— H.E. Justin Sun 孙宇晨 (@justinsuntron) November 22, 2023

Related: What bear market? These crypto websites see traffic rising in 2023

More articles

Latest article

MI vs UPW Match Prediction: Who will win today’s WPL 2024 match?

Two teams have tried to beat the Mumbai Indians (MI) in the 2024 edition of the Women's Premier League (WPL), and...

“Bro misses his wife and kids”: Damian Lillard being ‘lonely’ after Bucks trade amid divorce battle evokes NBA fans’ sympathy

Damian Lillard made it explicitly clear that he feels "lonely" in Milwaukee in a recent interview. The...

“We have all made mistakes”: Love is Blind star Chelsea reacts to ex Trevor’s secret relationship allegation

Love is Blind star Chelsea Blackwell has extended support to her pod ex Trevor Sova after allegations that he had a...

“I’d doubt that I’ll be captaining that long” – Pat Cummins ponders captaincy future to prolong his playing career

Australian captain Pat Cummins remains unsure of leading the country for the rest of his playing career....

ISL 2023-24 Points Table: Updated standings after Hyderabad FC vs Punjab FC clash

Punjab FC beat Hyderabad FC 2-0 in the 96th match of the Indian Super League (ISL) at...