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News

Harmony's cross-chain bridge exploited for USD 100 mln

Friday 24 June 2022 10:48 CET | News

The Horizon Bridge to the Harmony layer-1 blockchain has been exploited for USD 100 million in altcoins which are being swapped for Ether (ETH).

11 transactions were made from the bridge for various tokens. The hackers have since begun sending tokens to a different wallet to swap for ETH on the Uniswap decentralized exchange (DEX), then sending the ETH back to the original wallet.

So far, Frax (FRAX), Wrapped Ether (WETH). Aave (AAVE), Sushi (SUSHI), Frax Share (FXS), AAG (AAG), Binance USD (BUSD), Dai (DAI), Tether (USDT), Wrapped BTC (WBTC), and USD Coin (USDC) have been stolen from the bridge through this exploit.

The Horizon Bridge facilitates token transfers between Harmony and the Ethereum network, Binance Chain and Bitcoin. Harmony, the operator of the bridge, announced late on June 23 that the bridge has been halted. It said the BTC bridge and its assets have not been affected by the attack. The Harmony team also said it was working with national authorities and forensic specialists to determine who is responsible.

More: Link


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Keywords: online fraud, cryptocurrency, blockchain, cybersecurity, hacking
Categories: Fraud & Financial Crime
Companies: Harmony
Countries: World
This article is part of category

Fraud & Financial Crime

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Harmony

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