CandleFocus HECO Network to Cease Operations a Year After $87M Hack
2024-12-25
Author: Content Editor
The Heco Network, Huobi's Layer 1 blockchain, will be retired on January 15, 2025. Users holding HRC20 assets on the blockchain, such as HRC20ETH and HRC20TUSD, need to secure their holdings before the closure. Users must deposit their assets into designated addresses on the HecoDAO website by January 10, 2025, and provide their TRON network addresses. The assets will be converted into points based on their market value on November 10, 2024, and users can redeem these points for HTX tokens. The distribution process will occur over 12 monthly payments starting on January 15, 2025. The retirement comes after a hack in 2023 that resulted in the loss of over $87 million in assets, which Huobi has promised to fully compensate users for.
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