Hackers stole $100 million in cryptocurrency from the Horizon Bridge app, in the latest major heist in the digital world. CNBC.
Details of the attack are still unknown, but the digital asset platform Harmony, which developed the app, said it discovered the theft on Wednesday morning and identified an individual it believes was the culprit.
“We have started working with national authorities and specialists to identify the culprit and recover the stolen funds,” the emerging platform said in a tweet late Wednesday.
“We are working with the FBI and several cybersecurity companies to investigate the attack,” she added.
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.
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— Harmony ???? (@harmonyprotocol) June 23, 2022
This application plays an important role in block chain technology, or what is known as (Blockchain), as it provides users with a way to transfer their assets. Harmony said the theft did not affect the blockchain technology.
According to Jes Symington, head of research at Elliptic, Horizon Bridge “maintains large stores of liquidity”, making it an “attractive target for hackers”.
Harmony did not reveal exactly how the money was stolen. However, one investor has raised concerns about the app’s security since last April.
The security of the Horizon app depends on the “multisig” wallet, which requires only two signatures to initiate transactions.
Some researchers speculate that the breach was the result of a “private key hack”, in which hackers obtained the password or passwords required to access a crypto wallet.
In another context, the price of Bitcoin rose by two percent to $ 20,978, last Sunday, after it failed to move quickly, up or down, from the level of $ 20 thousand.
Ether also rose 10.42 percent to $1100.07, adding $103.79 to its previous close.