Yugocean
Valued Contributor
Harmony's Horizon Bridge App was Hacked, and Hackers stole $100 million in cryptocurrency from the app. Horizon Bridge is an application software that allows users to exchange coins between blockchains.
The hacking was identified by the Harmony team on the morning of June 24. According to the announcement, their team is working with national authorities and forensic experts to identify the perpetrator and recover the stolen money.
Harmony has also paused Horizon Bridge transactions for now, alerting various exchanges to the hacker by issuing a wallet address identifying the hacker.
Although Harmony did not specify which crypto the hacker hacked, the wallet address of the hacker's identity issued by Harmony is of type 0x, leading to speculation that the stolen ETH tokens may have occurred.
According to researcher Chainalysis, the Bridge App is very vulnerable to hacks, to support its claim, Chainalysis has cited examples of Wormhole bridge (February) and Ronin Bridge (March) hacking incidents this year, in which hackers stole crypto worth 1 billion dollars.
The hacking was identified by the Harmony team on the morning of June 24. According to the announcement, their team is working with national authorities and forensic experts to identify the perpetrator and recover the stolen money.
Harmony has also paused Horizon Bridge transactions for now, alerting various exchanges to the hacker by issuing a wallet address identifying the hacker.
Although Harmony did not specify which crypto the hacker hacked, the wallet address of the hacker's identity issued by Harmony is of type 0x, leading to speculation that the stolen ETH tokens may have occurred.
According to researcher Chainalysis, the Bridge App is very vulnerable to hacks, to support its claim, Chainalysis has cited examples of Wormhole bridge (February) and Ronin Bridge (March) hacking incidents this year, in which hackers stole crypto worth 1 billion dollars.
