Harmony blockchain offered a $1 M bounty to a hacker that exploited a vulnerability on the Horizon Bridge and was able to move $100 M funds. They used different decentralized exchanges to swap the stolen cryptocurrencies for Ether.
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Harmony said the team won’t advocate for charges if the hacker returns funds.
On June 24, Harmony tweeted they are collaborating with the FBI and various cyber security companies and forensic experts to find out the hacker and bring the moved assets back. To mitigate further risks, Harmony stopped the bridge.
There is no response from the hacker yet. According to data from Etherscan, the address of Horizon Bridge Exploiter currently holds Ethers worth of around $83 M.
A report by the blockchain analytics platform Elliptic says in 2022 over $1 B has been stolen from bridges. Horizon was the latest victim. The bridge operates on Harmony and connects the blockchain with Ethereum and Binance Smart Chain.
After the hack, Harmony’s native token ONE dropped considerably in price. In the last 7 days, its price fell by over 12%. Currently ONE trades at around $0.02.