On June 23, an open and fast blockchain platform Harmony Horizon Bridge had been hacked with early damage pegged at up to $100 million ETH. However, Harmony confirmed the news on twitter platform on the morning of June 24, at 6:13 AM. The hacker stole more than 110,000 FXS ($607k),1592 WBTC ($12.4 million), 13,100 ETH ,(worth $14.1 million), 5.6 million FRAX, 41.2 million USDC, 9.9 million USDT, 6 million DAI, 5.5 million BUSD, 84.6 million AAG ($1.3 million), 415,000 SUSHI ($518k), and numerous other ERC-20 tokens, according to the hacker wallet made available by Harmony.
Harmony platform tweeted:
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
Address of the offender name 0x0d043128146654C7683Fbf30ac98D7B2285DeD00 approximately having $99 worth of Ether presently which is connected to the twitter link.
Harmony is pursuing their investigation with the help of the FBI and many cyber security companies.
At the moment, the trustless BTC bridge is unaffected by this hack attack and the funds and assets have been kept in decentralised vaults which are secure.
To prohibit additional transactions, they have also alerted exchanges and shut down the Horizon bridge. As the investigations proceed, the crew is working nonstop.
As they look into this more thoroughly and gather additional data, they will keep everyone informed.
Complex technology
Due to token bridge’s complex technology, the bridges are frequently the target of attacks.
A $650 million breach on the Ronin sidechain, which supports the token-based online game Axie Infinity, is thought to be one of the greatest hacks in the history of decentralised finance.
Later it was discovered that North Korean hackers were responsible for the heist. Bad actors also seized the Wormhole bridge in February and stole cryptocurrency worth more than $300 million.
Data from Norway-based Dune Analytics shows that there are over 25,000 different depositors contributing a total of $11.7 billion to various Ethereum bridges.
