Heap overflow is one of the most widely exploited vulnerabilities, with a large number of heap overflow instances reported every year. It is important to decide whether a crash caused by heap overflow can be turned into an exploit. Efficient and effective assessment of exploitability of crashes facilitates to identify severe vulnerabilities and thus prioritize resources. In this paper, we propose the first metrics to assess heap overflow crashes based on both the attack aspect and the feasibility aspect. We further present HCSIFTER, a novel solution to automatically assess the exploitability of heap overflow instances under our metrics. Given a heap-based crash, HCSIFTER accurately detects heap overflows through dynamic execution without any source code or debugging information. Then it uses several novel methods to extract program execution information needed to quantify the severity of the heap overflow using our metrics. We have implemented a prototype HCSIFTER and applied it to assess nine programs with heap overflow vulnerabilities. HCSIFTER successfully reports that five heap overflow vulnerabilities are highly exploitable and two overflow vulnerabilities are unlikely exploitable. It also gave quantitatively assessments for other two programs. On average, it only takes about two minutes to assess one heap overflow crash. The evaluation result demonstrates both effectiveness and efficiency of HC Sifter.