Harmony offers a $1M bounty for the return of $100M stolen funds
Harmony has promised a $1 million reward for information that would return the blockchain company’s $100 million funds stolen last week. The offer also addresses the hacker – if they return the assets, Harmony said it would not press criminal charges.
Twitter users ridiculed Harmony’s proposal, stating that $1 million for a $100 million hack is too little.
Harmony identified the Horizon bridge hack last Thursday. Since then, specialists (FBI, cybersecurity firms, and global engineers) have been investigating the case in hopes of retrieving funds.
On Sunday, the founder and CEO of Harmony, Stephen Tse, gave details about the incident. The team discovered that private keys were compromised and funds were stolen from the Ethereum side of the bridge; the attacker decrypted the keys to gain full access. Stolen cryptocurrencies include BUSD, USDC, ETH, and WBTC. All assets were swapped to Ethereum, and most funds are currently in the hacker’s wallet, yet to be moved.
“We have migrated the Ethereum side of the Horizon bridge to a 4-of-5 multisig since the incident. We will continue taking steps to further harden our operations and infrastructure security,” Tse wrote.
According to REKT data, the cyberattack would be the fourteenth largest in the crypto industry. However, the bounty only offers 1% of the $100 million and might be too small for the hacker to return the money.
Harmony’s native token ONE keeps dropping and is currently at $0.02313, a 15% decrease in seven days.
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Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].
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Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].
