HTX Exchange Loses $13.6M as part of the $87M HECO Bridge Exploit

Heco chain bridge, the bridge connects the HTX exchange (formerly Huobi) and Ethereum was exploited for approximately $87 million in crypto assets. Large quantities of ETH, USDT and a wrapped version of bitcoin (HBTC) were seen leaving the bridge for a previously unused Ethereum wallet.

According to CertiK, the bridge's private key was likely compromised. Justin Sun confirmed the incident on X, and HTX suffered an estimated loss of $13.6 million as part of the bridge exploit.

“HTX and Heco Cross-Chain Bridge Undergo Hacker Attack. HTX Will Fully Compensate for HTX’s hot wallet Losses,” Sun said.

The primary purpose of the HECO bridge is to enable the movement of digital assets between the Huobi Eco Chain and other blockchains, such as Ethereum.