Stolen assets include BUSD, USDC, ETH, and WBTC
Harmony lost $100 million in a bridge hack last week and announced a $1 million bounty if the hackers return the stolen funds. In addition, Harmony will stop pursuing criminal charges when funds are returned.
Summary:
- Harmony (ONE) has offered a $1 million bounty for the return of stolen funds during its Horizon Bridge hack.
- However, the hacker has begun to move funds through Tornado Cash.
- The $100 million stolen funds include BUSD, USDC, ETH, and WBTC.
- The founder of Harmony, Stephen Tse, informed the community that Harmony’s consensus layer remains secure.
- The Harmony hack seems to have no impact on user confidence since DeFi dapps such as Prime and BRING FINANCE achieved impressive 7-day user growth.
On June 24, 2022, Harmony lost $100 million worth of tokens due to a hack on its Horizon bridge, according to its official Twitter account. Since then, the team has conducted a series of investigations, and now it offers $1 million as a bounty if hackers return the stolen funds and share information regarding the exploit.
Earlier today, Harmony discovered that the hacker had begun to move funds through Tornado Cash. The team is working with blockchain tracing and analysis experts and collaborating with the FBI to track down the criminal act.
More information on theft revealed
The founder and CEO of the Harmony protocol, Stephen Tse, partially disclosed the findings on the theft via a Twitter thread.
He revealed that the attacker could access and decrypt several private keys, signing some unauthorized transactions. After investigation, the Harmony team has found evidence that private keys were compromised, which led to the breach of the Horizon bridge. However, the theft happened on the Ethereum side of the bridge. The heist resulted in the loss of assets, including BUSD, USDC, ETH, and WBTC.
According to Stephen Tse’s Tweet, the team hasn’t found evidence of any vulnerability on the Horizon platform. Furthermore, Harmony’s consensus layer remains secure. The team is still in the middle of an ongoing investigation, and Harmony will keep everyone updated on the latest progress.
Users seem to remain confident in Harmony
The Harmony hack happened less than a week ago, but users still seem to have confidence in the blockchain’s ecosystem.
According to DappRadar Ranking, many dapps on the Harmony blockchain have seen significant number growth over the past seven days. For example, BRING FINANCE, the decentralized cross-chain staking platform, registered an over 800% user growth in 7 days. In addition, Prime, an investing tool originally on BNB Smart Chain, brought nearly 17000 users to Harmony over the past seven days, an impressive 1000% increase.
DappRadar will continue monitoring the latest developments of Harmony’s hack incident and its ecosystem. Follow us on Twitter, Discord, and Youtube to keep up with the dynamic blockchain world.
