Harmony Dangles $1M Reward For Return Of $100M Stolen Funds – Is It Enough?

A new report suggests that a notorious North Korea-affiliated hacking group may be behind last week’s $100 million Harmony attack. The Lazarus Group, a well-known North Korean hacking syndicate, has been identified as the primary suspect in the recent attack that saw $100 million stolen from the Harmony protocol. According to a new report published today by blockchain analysis firm Elliptic, the manner in which Harmony’s Horizon Bridge was hacked and the way stolen digital assets were consequently laundered bears a striking resemblance to other Lazarus Group attacks.“There are strong....

The Harmony team says it will offer $1 million to the hacker who exploited the Horizon Bridge for $100 million, but that may not be enough to get the funds back. The Harmony layer-1 blockchain project team has offered a bounty equal to just 1% of the $100 million in crypto stolen from the Horizon Bridge hack last week. Harmony tweeted on June 26 that the team had committed $1 million for the return of the funds that were stolen from the Horizon Bridge on June 23. It added, “Harmony will advocate for no criminal charges when funds are returned.”We commit to a $1M bounty for the return of....

The Harmony protocol has been getting some flak since the company revealed a hard-fork plan that will generate approximately 5 billion of its native tokens to compensate the victims of the $100 million Horizon Bridge hack that occurred last month. Proposal for compensating those affected by the compromise of the Harmony Protocol cross-chain bridge has been […]

The layer-1 blockchain’s main bridge between Ethereum, Binance Chain, and Bitcoin has been exploited for nine figures, but says its BTC bridge has not been affected. The Horizon Bridge to the Harmony layer-1 blockchain has been exploited for $100 million in altcoins which are being swapped for Ether (ETH).The hack may vindicate previously raised community concerns about the robustness of the two of four multisig that reportedly secures the bridge.Starting at about 7:08 am until 7:26 am ET, 11 transactions were made from the bridge for various tokens. They have since begun sending tokens to....

According to a PeckShield report, The Harmony attacker has already mixed more than $12 million through the protocol, and they’re sending 100 ETH to Tornado Cash every six minutes. On Thursday morning, the proof of stake blockchain “Harmony” disclosed that $100 million worth of cryptocurrency had been stolen from its Horizon bridge. Related reading | Breaking: […]