Harmony announces a $1 million bounty for Horizon bridge stolen funds recovery

Harmony network on June 24 revealed a hacker had exploited its horizon bridge and made away with $100 million. The post Harmony announces a $1 million bounty for Horizon bridge stolen funds recovery appeared first on CryptoSlate.

Timeline of Harmony

Harmony said yesterday that hackers took around US$100 million (RM440.2 million) worth of digital coins from one of its key products. Harmony is known for developing blockchains for so-called decentralised finance, a peer-to-peer site that offers loans and other services without the traditional gatekeepers such as banks, and non-fungible tokens. The California-based company said its...

The company added that it would “advocate for no criminal charges” if the funds were returned. The post Harmony offers $1 million bounty for return of stolen funds appeared first on The Block.

Harmony Protocol has offered a $1 million bounty for the return of the stolen funds from the hack of its Horizon bridge and for information on how it happened. Harmony Protocols' founder has so far identified compromised private keys as the most likely root cause of the exploit.

While crypto prices have seen some healing during the last few days, the total value locked (TVL) across the entire decentralized finance (defi) ecosystem has also improved. The TVL in defi has seen an increase of 7.19% since June 20, and the defi protocol Makerdao's TVL dominates by 10.37% this weekend. Defi TVL Improves, Cross-Chain

Harmony, an open and fast layer-1 blockchain offering a two-way Ethereum bridge, suffered an unfortunate hack on 24 June. Horizon, its cross-chain bridge to Ethereum, recorded this exploit worth nearly $100 million in ETH.

One Ethereum (ETH) competitor is taking a massive hit after hackers drained approximately $100 million worth of crypto from its cross-chain bridge. The Harmony (ONE) team says the breach occurred on the morning of June 24th on the Horizon bridge, which enables users to move crypto assets between Ethereum, Binance Smart Chain and Harmony. “The The post Ethereum Rival Tumbles As Hackers Drain About $100,000,000 From Its Crypto Bridge appeared first on The Daily Hodl.

The Harmony team has identified a theft taking place this morning (June 24, 2022) on the Horizon bridge amounting to approximately $100 million. 3/ Note this does not impact the trustless BTC bridge; its funds and assets stored on decentralized vaults are safe at this.

Another decentralized finance (DeFi) protocol has fallen prey to an exploit. The Harmony protocol had been gaining popularity among DeFi users over the last year as the DeFi space bloomed.

Be[In]Crypto takes a look at the five cryptocurrencies that decreased the most from June 17 to 24, including Harmony (ONE), which decreased after news of a $100 million exploit from their bridge. The post Harmony (ONE) Decreases After $100 Million Hack: Biggest Weekly Losers appeared first on BeInCrypto.

As if crypto markets and the overall ecosystem were not in a bad place already, things have just got much worse for Harmony Protocol. The post Harmony Horizon Bridge Loses $100M in Latest Crypto Exploit appeared first on BeInCrypto.