- Over $85 million was transferred from HECO chain bridge to suspicious addresses, raising exploit concerns.
- Justin Sun merged Tron and BitTorrent bridge ecosystem with HECO in 2022, which is currently facing hacking issues.
- Recent hacks include a $117 million exploit on Poloniex exchange and an $8 million hack on HTX exchange.
On-chain security platform Cyvers Alerts has detected that suspicious addresses have received over $85 million from the HECO chain bridge.
This suggests that an exploit is possibly underway or perhaps, HECO chain has just suffered from an over $85 million exploit. Whichever, details are still emerging.
🚨Code Red!🚨 (Ongoing)Our AI powered system has detected multiple suspicious transactions from @HECO_Chain bridge
Suspicious address has received around $85M. Suspicious address: https://t.co/JlMClIM7hg
First transaction is 10,145 $ETH from @HECO_Chain bridge to suspicious… pic.twitter.com/IwpqXvhCsU
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) November 22, 2023
In 2022, Justin Sun merged the TRON and BitTorrent bridge ecosystem with HECO. Lately, Justin Sun’s various projects have suffered from hacks.
See Also: Three Men Arrested for Alleged $10 Million Theft and Money Laundering Using Crypto
For example, earlier this month, Bitcoinworld reported that the Poloniex exchange suffered from a $117 million hack. Prior to that, the HTX exchange was a victim of an $8 million hack.
Expect more updates on this story soon.
