HECO Chain Continues To Suspend Deposits & Withdrawals Following Last Year’s Devastating Hack

The HECO Chain, a blockchain developed by HTX Exchange (formerly Huobi), seems to have experienced a ‘crash’ after a hacker drained $86 million.

Amidst significant speculation within the crypto community, Huobi’s (now known as HTX) HECO blockchain has yet to resume deposits and withdrawals since the November 2023 attack.

The website and official Twitter account of the project have even been frozen and stopped updating since February 2023. In a previous statement, Justin Sun had mentioned the possibility of merging HECO into the TRON ecosystem.

As CoinNerd reported, the HTX exchange’s private blockchain was visited by hackers on November 22 of last year. According to the investigation, the attack caused up to $86 million in damage and was the third security incident to occur in Justin Sun’s ecosystem, following two previous security breaches at Poloniex (damage of $125 million) and HTX (losses of $7.9 million).

At that time, TRON’s founder promptly confirmed the hack and committed to compensating affected users. However, nearly two months later, the HECO Chain remains relatively quiet, with no resumption of deposits and withdrawals as noticed by the community. Notably, the HECO Chain’s Twitter account has been inactive since the beginning of last year, further unsettling the community about the platform’s future.

* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.