Justin Sun, the founder of TRON and the head of the exchange HTX (formerly Huobi), can be said to have had misfortunes come singly recently. Its Heco cross-chain bridge was attacked by hackers on the 22nd, and a total of approximately US$86.6 million in assets was stolen. At the same time, HTX was also hacked, and the total amount of damage to the two platforms was approximately US$100 million.
Justin Sun related platforms have been stolen four times in the past two months, resulting in a loss of over 200 million mg.
Surprisingly, since Huobi Exchange changed its name to HTX on September 13, Justin Sun’s related encryption platforms have been attacked four times by hackers:
- September 24: HTX was hacked and lost nearly $8 million.
- November 10: Justin Sun’s cryptocurrency exchange Poloniex was hacked for $100 million. According to a blockchain security company, the incident was likely caused by the leak of private keys.
- November 22: HTX was hacked again, losing approximately US$13.6 million
- November 22: Heco cross-chain bridge was hacked for approximately US$86.6 million
Extended reading: Fire Will Be Hacked 5000ETH》 Justin Sun: Will fully bear the losses, CZ ironically changed its name to HTX to lead the competition...
Brother Sun was stabbed in the back by a traitor?
In the past two months, these hacked platforms have lost a total of US$208 million in funds. Although Justin Sun promised to compensate for all losses, some investors still began to question the security of Justin Sun's platforms and said they should stay away from these platforms.
At the same time, such frequent hacks have also caused widespread speculation from the outside world. A spokesman for the blockchain security agency Hacken said that the attacks suffered by Justin Sun were probably caused by insiders who leaked secrets:
We can see that the common target of all these attacks is Justin Sun's projects. The most likely cause in all cases is the leakage of private keys. These projects should definitely improve the procedures for storing sensitive information such as private keys.
If you don’t need huge amounts of liquidity, keep some of your funds in a cold wallet.
TRX has skyrocketed after being hacked in the past two times
Another very strange fact is that when hackers were attacked on November 10 and November 22, the native token TRX of Justin Sun’s public chain TRON surged abnormally, although TRX was not related to the hacked platforms. There is not a very strong relationship, but the rise against the trend is indeed abnormal.
Is it because a large investor wants to target users who are short TRX, is it a coincidence, or is it something fishy? It's not certain yet.
