Heco Bridge Security Breach Results in Approximately $83.4 Million Cryptocurrency Theft
Heco Bridge, the vital link between the Heco Chain network and the HTX-specific Ethereum network, was breached, leading to the theft of nearly $83.4 million in cryptocurrency. Among the stolen assets were 42.11 million USDT, 10,145 Ethereum (ETH) valued at $20.42 million, 489 HBTC valued at $15.63 million, and 346.87 billion Shiba Inu (SHIB) tokens, equivalent to $2.75 million. Additional losses included 173,200 UNI ($932,000), 610,000 USDC, 42,399 LINK ($600,000), and $347,000.
The attackers promptly exchanged all these assets, managing to accumulate a total of 41,434 ETH. Both HTX and Heco Cross-Chain Bridge were exploited by the hackers. In response, HTX temporarily suspended deposit and withdrawal operations, ensuring the community that all funds within HTX remain secure. Full compensation for the losses incurred by the hot wallet will be provided.
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An investigation is currently underway to determine the specific causes behind this attack, and services are expected to resume once the cause is identified and addressed.
Cryptocurrency Bridge Vulnerabilities
Cryptocurrency bridges have become a focal point for security concerns in the digital asset industry. These bridges, designed to facilitate the transfer of assets between different blockchain networks, have frequently been targeted in high-profile breaches.
The Bridge incurred a $320 million loss, while the breach in the Ronin network resulted in a loss of $625 million.
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