Hackers steal $100Million in crypto from Harmony Blockchain bridge

Hackers steal $100Million in crypto from Harmony Blockchain bridge

Hackers have stolen at least $100 million worth of digital tokens from Harmony, the crypto startup behind the Horizon Blockchain Bridge, which allows users to transfer their crypto assets from one blockchain to another. Other blockchains. 

Harmony admitted that a malicious attack occurred on their proprietary Horizon Ethereum bridge and multiple transactions breached the bridge with 11 transaction mining tokens stored in the bridge. 

 "The estimated value at the time of the attack was approximately $100 million," the US-based company said in a statement late  Friday. 

The startup says it has notified its cybersecurity partners and the Federal Bureau of Investigation (FBI) and asked to participate in the investigation to identify the perpetrators and methods of recovering stolen assets. steal. 

 "We are working around the clock to ensure that the investigation and recovery of stolen funds are completed in the fastest possible manner," the company added. 

Harmony says the focus on decentralized bridges is an important advancement of Web3.0. 

Using Harmony's Horizon Bridge, users can move assets such as tokens, stablecoins, and non-fungible tokens (NFTs) between the Ethereum, Binance Smart Chain, and Harmony blockchains. 

Hackers stole various digital tokens such as Ethereum, Binance Coin, Tether, USD Coin, and Dai. 

The stolen tokens were exchanged for Ethereum using decentralized exchanges, according to blockchain analytics firm Elliptic. 

Harmony closes the Horizon Bridge to prevent further transactions and its demand for Bitcoin is not affected. 

In April of this year, hackers stole nearly $180 million in cryptocurrency from Beanstalk Farms, decentralized finance (De-Fi) project. 

In April, the FBI accused North Korean hacker group Lazarus of stealing $625 million in cryptocurrency from the Ronin network, which is owned by the Sky Mavis developer team. 

In January of this year, hackers stole $120 million worth of crypto tokens from the Blockchain-based Decentralized Finance (DeFi) platform BadgerDAO.