Crypto exchange HTX suffers US$30 million hack after another platform linked to entrepreneur Justin Sun was hit

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Two projects connected to digital-asset entrepreneur Justin Sun, including the crypto exchange HTX, were hacked in separate exploits that may have drained more than a combined US$110 million worth of cryptocurrencies. Sun confirmed in a tweet on Wednesday that HTX had suffered a hack and that the exchange had “temporarily” suspended deposits and withdrawals, without providing details on the amount lost. An HTX representative said some US$30 million worth of cryptocurrencies were stolen from its exchange wallet, adding that the platform is investigating the incident. 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 Blockchain research firm CryptoQuant separately said the HECO Bridge, a network set up by HTX to enable cheaper transfers of funds between different blockchains, lost more than US$85 million denominated in ether, the Tether stablecoin and various other tokens in a separate hack. The HTX representative said HECO operates independently from the exchange. HECO did not respond to an emailed request for comment. The attacks come just weeks after Poloniex, another crypto exchange backed by Sun, said it suffered a hack that drained more than US$100 million in different cryptocurrencies. HTX also lost US$8 million in a security breach in September. “HTX will fully compensate for HTX’s hot wallet losses,” Sun said in the post on X, formerly known as Twitter. “Once we complete the investigation and identify the cause, we will resume services.”

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