Harmony’s Horizon Bridge was compromised!! 100 million dollars in damage

Harmony’s Horizon bridge hacked, $100M worth of Ether (ETH) by hack, could prove a concern previously raised by the community about two-quarter multisig strength for the security of the bridge.

There were 11 transactions from the bridge for the different tokens, with the attacker initially sending the tokens to other wallets in exchange for ETH on the Uniswap decentralized exchange (DEX), then sending ETH back to the original wallet.

“HARMONY’s team has discovered a burglary that occurred this morning at HORIZONT BRIDGE totaling approximately $100 million. stolen.”

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) are all stolen from the bridge through this vulnerability.

Horizon bridge makes it easy to transfer tokens between Harmony and the Ethereum network, Binance chain and Bitcoin On June 23, the bridge stopped, stating that the BTC bridge and its assets were not affected by the attack.

Previously, there were concerns about the strength of Horizon’s multisig wallet on Ethereum, requiring only two-quarters of its signatories to withdraw their funds.

While Ape Dev, one of the founders of cryptocurrency funds (Cryptocurrency) got a postonTwitterOn April 2, it posted a warning about the dangers of a low number of people signing up for multisig wallets.

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