On June 22, hackers stole around $100 million worth of Horizon (HZ) cryptocurrencies. The great heist was made to the decentralized finance market (DeFi, for its acronym in English).
(Read: The volatility of the new markets).
harmony, the company Horizon developer, has not provided much information about what happened. According to publications on their social networks, the theft was discovered on Wednesday the 22nd and is already being investigated by the competent authorities.
“We have started working with national authorities and forensic specialists to identify the culprit and recover the stolen funds.”, said the company through Twitter.
Preliminary versions indicate that the theft could be the product of a failure caused by the code vulnerabilities underlying the so-called block chain bridges, which are the ones that allow users to transfer their assets from one chain of blocks (Blockchain) to another.
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.
More ????
— Harmony ???? (@harmonyprotocol) June 23, 2022
Regarding the cryptocurrency, users can send tokens from the Ethereum network to the block chain Binance Smart Chain. Harmony also clarified that the network that communicates with Bitcoin has not been affected or violated in this theft.
A Horizon investor assured that this is not the first time that deficiencies have been registered in the chain bridges of blocks in the company. Therefore, it is believed that the hackers had access to the passwords that allow them to carry out robberies on the bridges.
Since the current narative du-jour is bridges & bridge hacks, I wanted to do some digging on the harmony bridge on Ethereum which secures ~$330m worth of tokens.
— Ape Dev (@_apedev) April 1, 2022
For their part, those who made transactions were already notified by the company and the flow of transaction through that bridge was stopped. “We will keep everyone updated as we investigate this further and get more information,” Horizon wrote on her Twitter account.
(Also: They prepare regulations for cryptocurrencies in the country).
4/ We have also notified exchanges and stopped the Horizon bridge to prevent further transactions. The team is all hands on deck as investigations continue.
We will keep everyone up-to-date as we investigate this further and obtain more information.
— Harmony ???? (@harmonyprotocol) June 23, 2022
BRIEFCASE