Harmony Offers a $1 Million Reward After a Hacker’s Attack

27.06.2022 08:35
by Srđan Jovanović
2 min read

The developers behind the Harmony protocol are offering a $1 million bounty for information leading to the return of the $100 million that was stolen from its Horizon bridge.

On Thursday, a hacker stole $100 million worth of altcoins from the Horizon bridge. The stolen altcoins include wETH, SUSHI, AAVE, DAI, Tether (USDT), and USD Coin (USDC). The hacker then swapped the coins for ETH.

According to Harmony’s official Twitter account, the team has since learned the address of the hacker. They are working with “national authorities and forensic specialists” in order to return the stolen funds. However, the company’s promised not to press criminal charges if the funds are returned.

Following the theft, Harmony has halted all Horizon bridge activity. Its native token ONE has shrunk in value since the theft was discovered last Friday. Its price currently amounts to $0.02362, according to CoinMarketCap. This is some 8.5% decrease since Friday.

Horizon is Harmony’s cross-chain bridge. This means that Horizon enables users to send assets from one blockchain to another: Harmony, Ethereum, Bitcoin, and Binance Chain.

This theft is just another in the line of cross-chain bridge hacks. Qubit Finance’s bridge was attacked for $80 million in January, the Wormhole bridge for $320 million in February, and in March, hackers stole $622 million from Axie Infinity’s Ronin bridge.

Author

  • Long-time editor, crypto enthusiast, and all for free trade. Also a social scientist, musician, and a thorough-going liberal. Wrapped up a degree in linguistics, an MA in politics, and a PhD in history. Six postdocs afterwards. Speaks English, Serbian, Czech, and Swedish, communicative in German, Russian, Polish, Italian, Slovak, Norwegian, and even some Mandarin. Cryptocurrencies are the future.

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