Heco bridge appears to have been drained of $86.6 million | Headlines | News | CoinMarketCap
11/22/2023 19:03
Unexpected crypto flows suggest an exploit involving the Heco bridge, a bridge used for moving funds between Ethereum and the Heco Chain — a …
The Block19 minutes ago
Ethereum
Arkham
Published on November 22, 2023 11:44 GMT+00:00edited on November 22, 2023 11:49 GMT+00:00
Unexpected crypto flows suggest an exploit involving the Heco bridge, a bridge used for moving funds between Ethereum and the Heco Chain — a blockchain set up by the HTX exchange.
Initial estimates suggest that $86.6 million was taken from the Heco bridge, according to Wintermute Head of Research Igor Igamberdiev and blockchain analysts PeckShield. The funds were immediately sent to decentralized exchanges and sold for other tokens.
"We suspect the bridge may be exploited or rugpulled," said PeckShield.
Igamberdiev estimates that there was an additional exploit of the crypto exchange HTX, citing suspicious transfers of $23.4 million. He said these transactions shared the same patterns as those in the Heco bridge exploit and occurred shortly afterward. HTX has also started moving funds …