Is Justin Sun Behind HTX, Heco Chain Hack?

Crypto mogul Justin Sun has confirmed that crypto exchange HTX and blockchain protocol Heco Chain has come under attack, resulting in a combined loss of $97 million across various tokens.

Sun assured users that HTX would fully compensate for any losses incurred in the attack.

The exchange has currently temporarily suspended deposits and withdrawals.

The breach was first flagged by blockchain security firm Cyver, which identified suspicious transfers amounting to $85 million.

Cyver attributes the attack to a suspected private key leak, enabling unauthorised access to the Heco bridge.

This bridge facilitates the transfer of tokens between Heco Chain and Ethereum.

This incident follows a string of exploits related to Justin Sun, who just saw Poloniex suffer a $100 million hack this month.

Sun’s HTX also suffered a smaller exploit in September this year, though the hacker returned the funds shortly after, receiving a whitehat bounty in the process.

These coincidences have led many speculators on the X to suspect Sun’s involvement in the hack.

Any and all losses from such previous incidents were however, fully covered in the days that followed.

* Original content written by Coinlive. Coinbold is licensed to distribute this content by Coinlive.