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Altcoin project was hacked, team noticed when price dropped 70%!

The price of the altcoin project, which was attacked to the tune of several million dollars, literally collapsed.

The cryptocurrency market has been at the center of another cyberattack. The Highstreet Project (HIGH) suffered significant damage following a $20 million attack.

In the statement made by the team, it was stated that the attackers initially purchased HIGH from the South Korean exchange Bithumb and moved them through the BSC bridge. Although assets worth $9 million were removed from Bithumb, the net amount of abuse was recorded at $20 million.

The first intervention was successful, but the price collapsed

According to the team's statement, approximately 8 million assets were rescued or neutralized during the initial response to the HIGH attack. But the price didn't matter.

HIGH, which was around $8.87 on June 8, fell by almost a third to $2.87.

The team included the following statements about what happened in their statement:

We recently conducted an investigation into Highstreet's recent price movements. Our results confirmed that these actions were the result of a malicious attack against our community. In particular, it was found that an attacker withdrew 20 million tokens, of which 9 million came directly from a Korean exchange. Our team and investors showed aggressive defense and digested the first 8 million of the 20 million tokens. But since these guys initially bought tokens from Bithumb and mined them via the BSC bridge, we couldn't see who we were fighting against until now.