Hackers took $100 million in cryptocurrencies from Horizon, a so-called blockchain bridge. The details of the attack are still not clear, but Harmony, the creators behind Horizon, claimed that they had identified the theft.
Harmony builds blockchains for what is referred to as decentralised finance - peer-to-peer sites offering services such as loans without the traditional gatekeepers such as banks and non-fungible tokens. Horizon bridge is a tool for transferring crypto between different blockchains. It is also essentially the underlying software that is also used by other digital tokens like bitcoin and ether.
Harmony has identified an individual account as the offender. Harmony tweeted that it is investigating the incident in collaboration with the Federal Bureau of Investigation and various cybersecurity firms. Analysts believe the attack was caused by a private key compromise, in which hackers gained the password(s) required to access a cryptocurrency wallet.
Harmony’s spokesperson said, “We are currently narrowing down the potential attack vectors while working to identify the culprit.” The person also claimed that the company had already tried to contact the hacker through a transaction to their crypto wallet address.
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