Attacks on Poloniex, HTX, Heco Bridge, KyberSwap, and Kronos Research
In November 2023, hackers managed to steal a total of $290 million from five major heists in the crypto space. Each attack involved the illegal transfer of at least $10 million from different platforms. Lookonchain reported that three entities related to Justin Sun, namely HTX, Heco Bridge, and Poloniex, were among the affected platforms.
Exploits on HTX and Heco
The most recent attacks occurred on November 22 and targeted HTX and Heco. Cyvers, a blockchain monitoring service, issued an alert stating that hackers had stolen over $13 million from HTX and $86 million from Heco.
HTX, formerly known as Huobi, had previously experienced a hack where 5,000 Ether (ETH) worth $8 million was lost.
Hack on Poloniex
Poloniex, another crypto venture associated with Justin Sun, was also compromised. The hackers managed to steal more than $100 million in cryptocurrencies. In response, Sun offered a five percent bounty amounting to $10 million and demanded the return of the funds.
Prior to the attack on Heco, the hack on Poloniex was the largest crypto exploit recorded in November 2023.
Hijacking of KyberSwap
The multichain decentralized exchange KyberSwap was targeted by hackers who stole an estimated $46 million. The attacker informed KyberSwap’s team and community about their intention to negotiate after getting some rest.
Breach at Kronos Research
Kronos Research, a crypto trading and research firm, suffered a loss of $25 million in ETH. Unknown individuals gained access to API keys and breached the firm’s security. Kronos Research assured its clients that investigations were underway and that their funds faced minimal risk exposure.
Hackvember 2023
November 2023 witnessed numerous attacks on crypto projects, including protocol hacks and phishing campaigns. In addition to a one-time hack that drained $27 million from a crypto wallet, the Ethereum layer-2 network Loopring’s X account was infiltrated by phishing scammers. The incident lasted almost an entire day before the malicious links promoting a fake LRC token airdrop were identified and addressed by Loopring’s team.
Hot Take: A String of Major Hacks Plagues the Crypto Space
In November 2023, the crypto industry faced a series of devastating hacks, resulting in the theft of millions of dollars. Attacks on platforms such as Poloniex, HTX, Heco Bridge, KyberSwap, and Kronos Research exposed vulnerabilities in their security systems. These incidents serve as a reminder that even well-established entities can fall victim to cybercriminals. The crypto community must remain vigilant and take proactive measures to enhance security protocols and protect user funds. As the industry continues to evolve, it is crucial for individuals and organizations to prioritize cybersecurity to ensure a safer and more secure crypto ecosystem.
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