Suspicious Transactions Detected in This Altcoin, Price Drops 90 Percent, Two Exchanges Suspend Trading

Cryptocurrency security firm Cyvers Alert has issued a critical alert about an altcoin after detecting an anomalous transaction linked to the KyberNetwork hacker.

According to the alert, an address funded by the KyberNetwork hacker received $50 million worth of HXA tokens from Ethereum address 0x0…000dEaD using the transferfrom function.

The funds have since been distributed to various Externally Owned Accounts (EOAs), which are currently the largest HXA holders. In a worrying development, both Gate.io and MEXC official exchanges have suspended withdrawals and deposits of HXA tokens. The reason for this suspension remains unclear, but it has undoubtedly contributed to the growing concerns surrounding the altcoin.

Adding to the mystery, the HXA website is currently unusable, leaving investors and the general crypto community in the dark about the ongoing situation.

According to CoinMarketCap data, the HXACoin (HXA) price has lost approximately 90% of its value in the last 24 hours. Following the depreciation, the market value of the altcoin dropped to $ 10,000. HXA is not traded on any major cryptocurrency exchanges.

*This is not investment advice.