Bloomberg News reports that two projects are linked to Justin Sun. He is a digital-asset entrepreneur connected to the crypto exchange HTX. Two separate exploits have siphoned off a combined amount of $110 million worth of cryptocurrencies.
Sun’s Confirmation
In a tweet Wednesday, Sun confirmed that HTX underwent a hack attack. Following this episode, the exchange halted deposits and withdrawals temporarily. However, the exchange did not furnish any details about the lost amount.
According to a spokesperson from HTX, approximately $30 million worth of cryptocurrencies were stolen due to the hacking attack from the exchange’s wallet. The individual also added that an investigation by the platform is underway.
HECO Bridge
As stated by CryptoQuant, which is a blockchain research firm, the HECO Bridge, which is a network that has been set up by the crypto platform HTX to enable affordable or cheaper transfers among various blockchains, had to lose $85 million and more in Ether denominations, in stablecoin Tether and other crypto tokens in separate hacks.
The HTX spokesperson revealed that HECO has operated independently and separately from the crypto exchange. However, there has been no response from HECO to a request in the mail.
When did the Hacks Occur?
The attacks occurred just weeks after another crypto exchange linked to Justin Sun, known as Poloniex, suffered hacks. This attack siphoned off as much as $100 million in various cryptocurrencies. HTX lost as much as $8 million in September due to a security breach.
As revealed by Sun, HTX will be compensating fully for the hot wallet losses of HTX, as stated in a post on X, which was earlier known as Twitter. He said the services would resume once the investigation ends and the cause is identified.
