More than $86.6 million in digital assets have been transferred from the HECO Chain bridge to suspicious addresses, raising concerns about the security of the bridge. The blockchain security platform PeckShield has identified the incident as an ongoing exploit.
Tron founder Justin Sun has responded to the situation by announcing that users affected by the hack will be fully compensated by HTX. In the meantime, deposits and withdrawals have been temporarily suspended as the company investigates the incident. Once the investigation is complete, services will resume.
A transaction involving 10,145 Ether (ETH), equivalent to approximately $19 million, was initially flagged by PeckShield. Subsequent transactions included the transfer of other digital assets, such as USD Coin (USDC), Chainlink (LINK), and Shiba INU (SHIB), to different addresses.
HECO Eco Chain (HECO) was launched on December 21, 2020, with the aim of providing a cross-chain experience at lower gas fees. The project resulted from the merger of Tron and BitTorrent's bridge ecosystem, with Sun integrating both ecosystems into HECO in 2022.
