The HECO Chain bridge saw the movement of more than $86.6 million in digital assets to dubious addresses, according to data provided by blockchain security firm PeckShield.According to the security company, there is a continuous exploit and the bridge is hacked.
Justin Sun, the founder of Tron, responded to the event by declaring that HTX will reimburse users in full for any losses they may have suffered as a result of the attack.While they look into the situation, the company has also temporarily stopped accepting deposits and withdrawals.The executive stated that upon the conclusion of the probe, services will resume.
At first, PeckShield released a notice highlighting a transaction in which 10,145 Ether—or around $19 million—were moved off the bridge.Subsequent transactions involved the transfer of digital assets to several addresses, including USD Coin, Chainlink, Shiba INU, and others.
On December 21, 2020, HTX Eco Chain (HECO) was formally introduced to offer a cross-chain experience with reduced gas prices.The project was a combination of the BitTorrent bridge ecosystem and the Tron environment, which Sun had merged into HECO in 2022.
The most recent breach of the HECO Chain is the second exploit involving a Sun-related project.On November 10, Poloniex, an exchange that Sun purchased in 2018, experienced a $100 million hack.Security experts speculate that a compromised private key may have caused the problem.