The Harmony protocol team hasannounceUpdates for the community and partners About the asset recovery offer It intends to preserve the Harmony blockchain without generating new tokens. After the $100 million Horizon Bridge hack in June
The @harmonyprotocol team would like to update our community and partners on our Horizon bridge asset recovery proposal.
Key Takeaways:
0⃣ – 0% Mint
– Commitment from Foundation TreasuryRead the full announcement here: https://t.co/auW0Cm7Yd9
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— Harmony
(@harmonyprotocol) September 22, 2022
The hack exploits the Horizon Ethereum Bridge, a cross-chain bridge, to migrate assets between Harmony and the Ethereum blockchains by attackers.steal$100M worth of BUSD, USDC, ETH and WBTC assets before exchanging all tokens for ETH and doing money laundering.
Harmony offers$1 million prize moneyin order for the hacker to return the money stolen. The Harmony core team then offered Hard Fork to create a new Harmony ONE token as part of the hack victims reimbursement plan.
At that moment, the main team argued against using the treasury money. It said the funds were for growth and the ecosystem, and the Harmony community seemed dissatisfied with the proposal.forum concerned about the effects of inflation causing the offer to be withdrawn later
The latest in new offers announced today viablog post The Harmony team said that after listening to Harmony’s validators and community, we shared our goal of “Keep the foundation of Harmony blockchain with 0% minting” and now proposes to use foundation treasury for recovery.
“We propose not to generate additional ONE tokens or replace our tokens with the hard fork protocol, but we propose to deploy funds from our treasury for recovery and development.”
Harmony added that in the next few days More details will be updated on the mechanism for deploying recovery allocated funds.
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