Justin Sun, the founder of the TRON blockchain and the name behind prominent crypto exchanges, shared details about a recent hack. In less than a month, this is the second one of the platforms associated with the crypto founder to lose millions of dollars for its users.
Justin Sun Shares Details About Recent Hack
Data from crypto analytics Cyvers Alerts indicates that as much as 10,145 in Ethereum (ETH) got drained during the attack. The bad actors targeted the Heco bridge, a platform associated with crypto exchange HTX, and Justin Sun.
The firm identified the addresses associated with the attack on HTX and the bridge. The platform lost around $12.5 million in stablecoin USDC, USDT, Chainlink (LINK) and Ethereum.
As seen in the chart below, the bad actors used multiple transactions to move the funds while trying to conceal their tracks. The attackers swap millions in stablecoins to ETH for that purpose. The analytics firm stated:
Hacker has distributed all the assets to different EOAs with 1 $ETH for gas fee per each address. Then transferred all $ETH to another EOAs. Right now all stolen funds are parked at 4 different addresses!
Additional data from crypto analytics firm Nansen identified the addresses associated with the hack in the following link. Justin Sun stated the following regarding the incident and the consequences for the users:
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 attack. Once we complete the investigation and identify the cause, we will resume services.
Sun Suffers Second Attack In Two Weeks
The crypto community replied to Sun’s post enquiring about the attacks impacting related platforms. So far, none of the investigations have explained why this platform was targeted, but the crypto industry is constantly under pressure from cyber criminals.
Our sister website, NewsBTC, reported two weeks ago that Poloniex, the Justin Sun-led exchange, fell victim to a hacking incident, stealing over $60 million in customer funds. The breach affected various assets, including Ethereum (ETH) and Tether (USDT), each suffering approximately $11 million in losses.
Poloniex is extending a 5% ‘white hat’ bounty to the hacker, urging the return of the stolen funds to specified wallets. This offer, which gives the hacker a seven-day window before law enforcement gets involved, garnered mixed reactions from the crypto community.
As of this writing, Ethereum trades at $2,028 with sideways movement on low timeframes.
Cover image from Unsplash, chart from Tradingview
