Hacker stole about $100 million during the attack on the Horizon cross-chain bridge of the Harmony protocol

Hacker stole about $100 million during the attack on the Horizon cross-chain bridge of the Harmony protocol

A hacker stole about $100 million in an attack on the Horizon cross-chain bridge of the Harmony protocol

The Harmony blockchain platform team reported an attack on the Horizon cross-chain bridge, as a result

An unknown person withdrew the tokens in several transactions, then sent them to another wallet and exchanged them on the Uniswap decentralized exchange.

Horizon is a cross-chain bridge between the Harmony blockchain and Bitcoin, Ethereum and Binance Chain networks.

Harmony has suspended Horizon. They also said they launched an investigation with law enforcement, including the FBI, and notified cryptocurrency exchanges about the situation.

The team assured that the incident did not affect the trustless bridge for bitcoin — all funds are safe in decentralized vaults.

Against the background of the hack, the Harmony (ONE) token fell by 9.4% in a day. At the time of writing, its value is about $0.024, according to Coingecko.

Recall that in February, hackers withdrew more than $319 million from the Wormhole cross-chain bridge pool based on Solana, and also stole about $4.3 from DeFi company Meter million in bitcoin and Ethereum.

In March, during an attack on the Ronin sidechain, an attacker stole crypto assets worth about $625 million.

Ethereum founder Vitalik Buterin said earlier that he was “pessimistic” about regarding cross-chain bridges. In his opinion, the latter are vulnerable to 51% attacks.

According to Immunefi, in the first quarter of 2022 alone, crypto projects lost more than $1.22 billion as a result of the actions of hackers and scammers.

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