The Heco Bridge, which is used to transfer payments between HTX’s Heco Chain and the Ethereum network, has been hacked. The security compromise resulted in the loss of around $83.4 million in bitcoins.
Among the stolen items were 42.11 million USDT, 10,145 Ethereum (ETH) tokens for $20.42 million, 489 HBTC tokens worth $15.63 million, and 346.87 billion Shiba Inu (SHIB) tokens worth $2.75 million. 173,200 UNI ($932,000), 610,000 USDC, 42,399 LINK ($600,000), and 347,000 TUSD were also lost.
All of these assets were quickly traded for Ether by the attackers. They have amassed a total of 41,434 ETH.
Exploitation of Heco Bridge
Justin Sun, an HTX adviser, acknowledged that both HTX and the Heco Cross-Chain Bridge were hacked. As a result of this event, HTX has temporarily halted deposits and withdrawals, assuring the community that any monies held by HTX are secure.
Sun stated that HTX will fully compensate for the hot wallet’s losses.
The investigation into the particular causes for this attack is now underway, and services are expected to resume once the root cause has been found and rectified.
Vulnerability of crypto bridges
In the digital asset business, cryptocurrency bridges have become a focal point for security issues.
These bridges, which are intended to ease asset transfers across different blockchain networks, have been frequently targeted by high-profile attacks.
Last year, the Wormhole Bridge lost $320 million, while the Ronin Network hack cost $625 million.
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