$86m+ stolen from HECO bridge. ANOTHER Justin Sun service HACKED

[alani123]

Source: https://vxtwitter.com/PeckShieldAlert/status/1727286692489679360

It's crazy the frequency with which Justin Sun's owned services are getting hacked these days.

It was only a little more than a week ago that Sun's exchange Poloniex also got hacked.

What's going on here. Do you think this is suspicious from Justin Sun's part?
Definitely another warning to never keep funds in exchanges!

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[Oshosondy]

HTX (known before as Huobi global) was said to have suspended deposit and withdrawal. I have no fund there and I do not bother to login into my HTX account. But it was said that all losses are going to be covered.

It was also not long when HTX was hacked. It is just of recent.

As for me, I can never use anything like Heco chain.

[alani123]

HTX (known before as Huobi global) was said to have suspended deposit and withdrawal. I have no fund there and I do not bother to login into my HTX account. But it was said that all losses are going to be covered.

It was also not long when HTX was hacked. It is just of recent.

As for me, I can never use anything like Heco chain.

I wonder where the money to pay back for deposits is coming from. I'd sure as hell get my funds away from these platforms.
As of HECO, it's a blockchain based on Binance Smart Chain's principles, just for the Huobi (now HTX) exchange tokens.
It was very popular in 2021's bull run and remains popular with Chinese users, as does the exchange.

All these projects were running without major hacks before Justin Sun purchased HTX and Poloniex. Begs the question if it's oversight or malice at this point.

[OmegaStarScream]

-snip-
What's going on here. Do you think this is suspicious from Justin Sun's part?
Definitely another warning to never keep funds in exchanges!

I read an article a few days ago and apparently, the identity of the Poloniex hacker has been verified, and the hacker must return the funds before the 27th of November (while keeping 10M $) otherwise Justin would seek help from law enforcement. So yeah, I doubt he's dumb enough to make such a statement if he's connected to the hack in any way, shape, or form. That could easily backfire.

[alani123]

-snip-
What's going on here. Do you think this is suspicious from Justin Sun's part?
Definitely another warning to never keep funds in exchanges!

I read an article a few days ago and apparently, the identity of the Poloniex hacker has been verified, and the hacker must return the funds before the 27th of November (while keeping 10M $) otherwise Justin would seek help from law enforcement. So yeah, I doubt he's dumb enough to make such a statement if he's connected to the hack in any way, shape, or form. That could easily backfire.

So someone would be able to steal millions in crypto but not competent enough to cover their tracks?
I think this might be a bluff from Sun's part.

Yeah, it's likely that the hack could be attributed to incompetence instead of malice, but... So long as I don't see the hacker returning the funds I don't think they've really got his identity confirmed.
It was also reported that Justin sun used an ethereum block explorer to send messages to the addresses of attackers in multiple language.

Source: https://en.coin-turk.com/justin-suns-statement-on-poloniex-hack-funds-safe-and-hackers-identity-confirmed/

Sending a message in multiple languages seems contradictory to knowing someones real identity. Just one of the many contradictions here.

[Saint-loup]

Withdrawals are still suspended for almost all cryptos except for TRON surprisingly, I don't know why they are doing that but people who need to withdraw their funds from the exchange will have to convert them into TRX obviously. It could make pump the price of this coin on the exchange and Huobi could make profit from that by selling their own TRX to buyers, if they own some.

[rat03gopoh]

I think this might be a bluff from Sun's part.

Sending messages openly isn't objective at all (if I were the hacker I wouldn't even feel threatened). If it turns out there are no positive updates after the message, the community perspective instead considers the message to be BS.
And yeah JS seems to be getting played with this 2nd hack. Let's see if other open messages will be sent as well.

[sokani]

I think this might be a bluff from Sun's part.

Sending messages openly isn't objective at all (if I were the hacker I wouldn't even feel threatened). If it turns out there are no positive updates after the message, the community perspective instead considers the message to be BS.
And yeah JS seems to be getting played with this 2nd hack. Let's see if other open messages will be sent as well.

Justin Sun is making the headlines for the wrong reasons. This is the third time his crypto exchange is getting hacked in recent months and it doesn't look good. He's yet to recover the stolen funds for Poloniex hack, and now this? I wonder how he's going to sort himself out of this mess.

If the hacker was under his trail and he's about catching him, he wouldn't come out and publicly say this. Which makes me want to conclude that this could be a mind game to scare the hacker into returning the stolen funds.

[alani123]

Withdrawals are still suspended for almost all cryptos except for TRON surprisingly, I don't know why they are doing that but people who need to withdraw their funds from the exchange will have to convert them into TRX obviously. It could make pump the price of this coin on the exchange and Huobi could make profit from that by selling their own TRX to buyers, if they own some.

It's an obvious ploy to get people to buy TRON and bring desperately needed funds to the exchange I guess. By now and given how many times Justin Sun has been hacked, TRON is probably the only coin he's left holding in his own business' wallets. So given his large stake in TRON it would make sense that they're keeping it as the only active coin.

This gives an incentive for people to buy it in the exchange in order to withdraw with TRON. Maybe even deposit. But it's an early sign of collapse so no wonder people are trying desperately to get their money out.

[Saint-loup]

It's an obvious ploy to get people to buy TRON and bring desperately needed funds to the exchange I guess. By now and given how many times Justin Sun has been hacked, TRON is probably the only coin he's left holding in his own business' wallets. So given his large stake in TRON it would make sense that they're keeping it as the only active coin.

This gives an incentive for people to buy it in the exchange in order to withdraw with TRON. Maybe even deposit. But it's an early sign of collapse so no wonder people are trying desperately to get their money out.

OMG I hope you're wrong, but what you say is very frightening for all Huobi/HTX and Poloniex customers but also for the whole crypto community because if Justin Sun is ruined, the crypto ecosystem could collapse again like what happened with FTX, given Justin Sun's involvement in the area. He was very close to CZ and Binance AFAIK, but since his coin TRX is used by many exchanges, casinos and other crypto platforms it could hit them too sadly.

[Antotena]

Source: https://vxtwitter.com/PeckShieldAlert/status/1727286692489679360

It's crazy the frequency with which Justin Sun's owned services are getting hacked these days.

It was only a little more than a week ago that Sun's exchange Poloniex also got hacked.

What's going on here. Do you think this is suspicious from Justin Sun's part?
Definitely another warning to never keep funds in exchanges!

I do have many questions on my head with Defi protocols, like do they test this protocols and subject them to stress? Like I don't understand why any person can create a bridge that will contain millions of dollars and will not make it open protocol for people to go through and maybe invite some ethical hackers to run test them before they even make it available for everyone. Making it even a beta platform will caution people of how much they should put so that with time, they can upgrade it and also see potential bugs.

Another wormhole in the mud, but not as large as that of the $300m but I don't know why this didn't make news, could it be that there will be form of compensation from Heco chain foundation. I am also flabbergasted with how this guy's stole funds that cannot be spend. Stolen funds will remain vulnerable to the public without been unable to spend them, why steal it in the first place.

[alani123]

Source: https://vxtwitter.com/PeckShieldAlert/status/1727286692489679360

It's crazy the frequency with which Justin Sun's owned services are getting hacked these days.

It was only a little more than a week ago that Sun's exchange Poloniex also got hacked.

What's going on here. Do you think this is suspicious from Justin Sun's part?
Definitely another warning to never keep funds in exchanges!

I do have many questions on my head with Defi protocols, like do they test this protocols and subject them to stress? Like I don't understand why any person can create a bridge that will contain millions of dollars and will not make it open protocol for people to go through and maybe invite some ethical hackers to run test them before they even make it available for everyone. Making it even a beta platform will caution people of how much they should put so that with time, they can upgrade it and also see potential bugs.

Another wormhole in the mud, but not as large as that of the $300m but I don't know why this didn't make news, could it be that there will be form of compensation from Heco chain foundation. I am also flabbergasted with how this guy's stole funds that cannot be spend. Stolen funds will remain vulnerable to the public without been unable to spend them, why steal it in the first place.

Normally, when a DeFi protocol is launched, they do actually pay a hefty fee to external auditing firms to look through their smart contracts and provide advice on resolving potential security issues.
However, these audits are expensive. Checking even a single contract can cost up to 10k if it's a large one. Bridges have hundreds of contracts.

But in Huobi Bridge case, the compromise doesn't seem to be a very dedicated one in terms of smart contract security. Somebody probably just got backroom access and abused it to drain the funds. It's not unlikely that the security at the organization managing these addresses slipped and they got hacked in a more traditional way. For example malware being installed through social engineering or a rogue employee.

As of the hacker being unable to move the funds, where did that come from? So far I've seen the huobi bridge compromiser moving a lot of funds.

[Yamane_Keto]

If what is happening are hackers, this means either that he is one of those who worked with Justin Sun in the past, or he has access of some kind to computers owned by Sun, as it is difficult for such platforms to be hacked in less than 3 months, and the same scenario is repeated by returning part of the stolen money. I thought that what was happening was a kind of tax evasion, but this will focus the spotlight on it, and therefore the best guess is that it is indirect promotion.

[Darker45]

4 successful hacks on different platforms under Justin Sun within just a couple of months. That's a record. Whatever the reason or reasons may be, there must be something wrong with how these platforms are being maintained, particularly in terms of security.

Supposing all these rumors about exit scam are not true, I'm afraid there remains no reason why users should entrust their money to any of Justin Sun's services. But are all of these talks not true? Is this just coincidence? Or is there somebody out there specifically targeting Justin Sun's businesses?

[Lucius]

So someone would be able to steal millions in crypto but not competent enough to cover their tracks?
I think this might be a bluff from Sun's part.
~snip~

It was also suspicious to me from the beginning, and now that the hacking continues, we can rightly wonder who is actually hacking whom and for what reason. I put forward the thesis that it might be a way to launder money, and now that I see that hackers are "rewarded" with $10 million to return what they stole, there is definitely something wrong with that story.

Does Justin have any other services that haven't been hacked yet?