Crypto exchange HTX suffers US$30 million hack after another platform linked to entrepreneur Justin Sun was hit

Two projects connected to digital-asset entrepreneur Justin Sun, including the crypto exchange HTX, where hacked in separate exploits that may have drained more than a combined US$110 million worth of cryptocurrencies.

Sun confirmed in a tweet on Wednesday that HTX had suffered a hack and that the exchange had “temporarily” suspended deposits and withdrawals, without providing details on the amount lost. An HTX spokesperson said some US$30 million worth of cryptocurrencies were stolen from its exchange wallet, adding that the platform is investigating the incident.

Blockchain research firm CryptoQuant separately said the HECO Bridge, a network set up by HTX to enable cheaper transfers of funds between different blockchains, lost more than US$85 million denominated in ether, the Tether stablecoin and various other tokens in a separate hack. The HTX spokesperson said HECO operates independently from the exchange. HECO did not respond to an emailed request for comment.

The attacks come just weeks after Poloniex, another crypto exchange backed by Sun, said it suffered a hack that drained more than US$100 million in different cryptocurrencies. HTX also lost US$8 million in a security breach in September.

“HTX will fully compensate for HTX’s hot wallet losses,” Sun said in the post on X, formerly known as Twitter. “Once we complete the investigation and identify the cause, we will resume services.”