Second exchange led by Justin Sun has been hacked since the beginning of the month

The total amount of losses of HTX and Poloniex platforms exceeds $210 million

22.11.2023 - 14:38

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2 min

What’s new? In October, already the second exchange of Justin Sun faced a hack. Thus, on November 22, the businessman reported that the HTX (formerly Huobi) exchange hot wallet and the Heco cross-chain bridge were attacked. So far, estimates of losses from analysts vary: the auditing company PeckShield writes about $86,6 million, and journalists of The Block reported about $110 million. Two weeks ago, the Poloniex exchange led by Sun also lost more than $124 million.

Source: Twitter.com

What else is known? The HTX exchange has suspended deposits and withdrawals while it investigates the incident. Sun, however, assured that the funds on the exchange itself are safe, and the company will fully compensate for the losses.

According to PeckShield, the attacker withdrew TUSD, LINK, USDC, UNI, SHIB, HBTC, USDT, and ETH coins from the bridge and wallet. They were immediately redirected to decentralized exchanges (DEX) to be exchanged for other tokens.

On November 10, a hacker stole more than $124 million from the Poloniex exchange. At the time, Sun also reported that the platform remained solvent and would fully cover the damage at its own expense.

Within a week, the hacker had the opportunity to return 95% of the stolen funds in exchange for a commitment not to contact law enforcement, but the offer was ignored. Later, Sun reported that the hacker’s identity had been established, and information about him had been handed over to the police in China, the Russian Federation, and the United States.

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