Hacker hacked into blockchain bridge and stole $100 million worth of cryptocurrency

The team at the affected Harmony project is working with authorities to find the culprit and recover the stolen funds
Hacker hacked into blockchain bridge and stole $100 million worth of cryptocurrency

A hacker hacked the Horizon blockchain bridge running on Harmony’s network and stole $100 million worth of cryptocurrency. The attacker conducted 11 transactions within 18 minutes before starting to transfer tokens to exchange for Ethereum on the decentralized exchange Uniswap.

“The Harmony team discovered a theft that occurred on the Horizon Bridge worth approximately $100 million. We are working with national authorities and with forensics to identify the culprit and recover the stolen funds,” Harmony said on its Twitter account.

The Horizon Bridge allows tokens to be transferred between Harmony, Ethereum, Binance Chain and bitcoin networks. On the evening of June 23 the project announced that the bridge has suspended its work. At the same time, funds in BTC were not affected during the attack.

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The post was written by Crypto Expert John Belford

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