There was a massive hacking attempt on the Harmony blockchain network. 100 million dollars was stolen from Harmony’s Horizon bridge.
The world of decentralized finance is reeling from a major new heist. A hack attack on the Harmony Protocol network has confirmed the theft of $100 million. A comprehensive investigation was launched after the attack on the Harmony blockchain.
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Harmony’s Horizon bridge hacked
The attack on Harmony’s Horizon bridge caused a new crisis in the crypto world. According to a statement from the platform, the Horizon bridge suffered a loss of two-thirds of its capital (approximately $100 million).
According to Harmony’s Twitter account, the profile of the criminal has not yet been determined. However, the platform has flagged an individual cryptocurrency wallet that it believes is the thief. While the details of the Harmony hack are still being investigated, initial reports indicate that 11 transfers were made from the bridge using various tokens.
Harmony, the developer of Horizon, stated that the exploit did not affect the Bitcoin bridge and that its clients’ assets are safe.
1/ The Harmony team has identified a theft occurring this morning on the Horizon bridge amounting to approx. $100MM. We have begun working with national authorities and forensic specialists to identify the culprit and retrieve the stolen funds.
More 🧵
— Harmony 💙 (@harmonyprotocol) June 23, 2022
Most of the cryptocurrencies, worth $00 million, are still stored in the attacker’s wallet. However, the thief started converting it to ETH via Uniswap and made 11 transactions using different cryptocurrencies.
The Horizon network, which is quite popular in the crypto world, has the ability to connect the Harmony protocol with other networks such as Ethereum and Binance Smart Chain. It also enables the transfer of cryptocurrencies, fiat and NFTs between the Harmony blockchain and network.
The $100 million heist is not the first attempt that has deeply affected the crypto world. Previously, Ronin Network, the network behind the popular NFT game Axie Infinity, had more than $600 million stolen.
What do you think about the Harmony hack attempt? Don’t forget to share your opinions with us in the comments!
