Huobi’s ‘Heco’ chain bridge drained of $87M in crypto assets

The bridge connecting the HTX exchange (formerly Huobi) and Ethereum was exploited for approximately $87 million in crypto assets early Wednesday.

Large quantities of ether, tether (USDT) and a wrapped version of bitcoin (HBTC) were seen leaving the bridge for a previously unused Ethereum wallet.

The suspicious transactions were first analyzed by various blockchain security firms including CertiK, Peckshield and Cyvers.

According to CertiK, the bridge’s private key was likely compromised.

“The suspicious transactions were initiated by the Huobi HECO Bridge operator wallet indicating that this wallet was compromised,” a CertiK spokesperson told Blockworks.

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