In a November 22 post by cybersecurity firm Cyvers Alerts, it was reported that a suspicious address received $12.4 million from the HTX exchange.
At the same time, another address amassed approximately $85 million from the HECO chain bridge, both linked to Justin Sun’s business ventures.
Taken together, the alert suggests that Justin Sun’s Poloniex, a prominent cryptocurrency exchange, is now facing the results of a loss of more than $100 million across various cryptocurrencies.
Additional data from Arkham Intelligence highlights that HECO Chain Bridge transferred a large amount of tokens to the empty address 0xFc146D1CaF6Ba1d1cE6dcB5b35dcBF895f50B0C4, including 42.11 million USDT, 10,000 ETH, 489 BTC, and other assets exceeding $84 million.
USDT and BTC were transferred to DEXs, such as Uniswap and 1inch, and converted to ETH and sent to new addresses, in what is the fourth recent theft from Justin Sun projects.
Just under two weeks earlier, cryptocurrency exchange Poloniex suffered another attack on its hot wallets, resulting in the loss of more than $120 million in crypto assets on the Bitcoin, Ethereum, and Tron networks.
In response, Justin Sun turned to Etherscan with the announcement of a white hat reward in the amount of $10 million for the return of the stolen funds.
Unfortunately, since this is just one of a series of events, many investors are now urged to proceed with caution due to the ongoing code red.
