Layer 1 blockchain protocol Harmony Protocol has offered a $1 million bounty for nearly $100 million stolen information on Horizon Bridge, involving tokens including Wrapped Ethereum (WETH), AAVE, SUSHI, DAI, Tether (USDT) and USD Huh. Coin.
“Goodwill will not plead criminal charges when the money is returned,” the company said.
Goodwill working with FBI to recover funds
Harmony had previously identified the perpetrator’s address and said its team was working with “national authorities and forensic experts” to retrieve the stolen funds.
It also said it was working round-the-clock with the FBI and “several cyber security firms”.
Horizon Bridge was halted to prevent further trading, and the company said that the exploit did not affect its trustworthy BTC Bridge. “At this time the funds and assets stored in decentralized vaults are safe,” the company said.
Native Token Drops 10%
Harmony’s native token ONE, after a 10% drop following the attack, is currently trading 5% down at $0.023.
Launched in 2019 by Stephen Tse, the Harmony Protocol is a proof of stake blockchain and its Horizon Bridge is a cross-chain bridge that allows users to transfer their assets from one blockchain to another. Users can transfer their assets between Harmony’s network and Ethereum, Binance Chain and Bitcoin.
Cross-chain bridge under attack
The cross-chain bridge has been attacked several times in the recent past by hackers. In January this year, Qubit Finance’s bridge was hacked for $80m and a month later, bad actors stole $320m from the wormhole bridge. In March, $622m worth of Ethereum and USDC were stolen from Axie Infinity’s Ronin Bridge.