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Justin Sun Confirms $97 Million Hack on HTX and Heco Chain: Exchange Halts Withdrawals, Deposits, Assures Full Loss Coverage

In a significant blow to the crypto space, the widely used crypto exchange HTX and blockchain protocol Heco Chain fell victim to a staggering $97 million hack of various tokens on Wednesday. Justin Sun, an investor associated with the exchange, confirmed the breach in a post, marking another high-profile security breach in the digital asset realm.

Sun’s acknowledgment of the security breach came with an assurance that HTX would take full responsibility for any losses incurred due to the attack. As a precautionary measure, deposits and withdrawals have been temporarily suspended, although Sun emphasized that the remaining funds on the platform are secure.

Taking to Twitter, Sun addressed the incident, stating, “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.”

This latest breach follows a previous, albeit smaller, exploit in October, where hackers managed to siphon off $8 million, equivalent to 500 ether, from the HTX exchange. Notably, all losses resulting from the October incident were promptly covered in the days following the attack.

The consecutive breaches raise concerns about the vulnerability of crypto exchanges and blockchain protocols despite heightened security measures. The incidents underscore the ongoing battle between security experts and hackers seeking to exploit weaknesses in digital infrastructure.

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