The Horizon Bridge to the Harmony layer-1 blockchain has been hit by a major security breach that saw an estimated $100 million worth of cryptocurrency successfully siphoned out of the protocol.
Latest DeFi Bridge Exploit Results In $100M Losses For Horizon
The Harmony team announced the news Friday morning, confirming that it had “identified a theft occurring this morning on the Horizon bridge amounting to approx. $100MM,” adding that the bridge had been halted to prevent further transactions.
It went on to note that the address of the hacker had been identified and that it was working closely with relevant authorities and forensic experts to recover the stolen assets. Harmony said in a follow-up tweet that it’s “working around the clock” alongside the Federal Bureau of Investigation (FBI) and several cyber security firms as it continues investigations into the unfortunate event.
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
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