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Layer-1 blockchain Harmony has proposed to mint billions of its ONE tokens in order to reimburse the victims of the Horizon bridge hack that saw around USD 100m of user funds stolen.
The Harmony team came up with a few possible solutions to compensate users, but the community is not happy.
Under the proposal, there would be either a 100% reimbursement via 4.97 billion new ONE tokens, or a 50% reimbursement with 2.48 billion ONE tokens.
Hackers in North Korea are once again making headlines. They are being blamed for the recent attack on a California-based crypto exchange called Harmony that ultimately resulted in more than $100 million in crypto funds vanishing overnight.
Not long ago, Live Bitcoin News published an article about Harmony, a crypto platform stationed in Northern California that lost more than $100 million in digital currency units to hackers. The company was the latest digital asset firm to fall victim to cyberthieves.
It's happened again, folks. Another crypto exchange hack is in the books.
Harmony (ONE) is trading in the lower portion of a corrective pattern. It has not yet shown any clear signs of a potential bullish reversal.
Harmony (ONE) experienced a 10+% increase in price over the last 24 hours.
Harmony Protocol still hasn't found harmony after a recent hack. In fact, the drama on Harmony Protocol's Horizon Bridge continues.
Following last week's attack on the Harmony Protocol that resulted in the loss of $100 million, the exploiter has started to move the stolen funds. Harmony Hacker Moves $22 Million The exploit on the Horizen bridge, a channel that connects the Harmony network to leading blockchains Bitcoin, Ethereum, and Binance Chain, occurred when two addresses in a 2-5 multi-sig wallet used by Harmony got hacked with the attacker carting away $100 million worth of assets.
The hacker behind the exploit on Harmony Horizon Bridge has started moving some funds into the Tornado Cash Ethereum mixer. The recent activity shows that [.
Hackers who made off with $100 million worth of altcoins from the Horizon blockchain bridge five days ago have begun disposing of their loot. $22 Million Worth of Ether Shifted to Tornado Cash In a Twitter thread posted on June…
Harmony Protocol is cooperating with the FBI and two blockchain tracking/analytical partners to investigate the theft.
The hacker behind the Horizon attack has seemingly declined the protocol's offer by starting to launder the funds through TornadoCash.
Harmony hackers started laundering the stolen ETH from the Horizon bridge and sent $36 million of the $100 million to a mixing service so let's read more today in our latest cryptocurrency news. The hackers responsible for stealing $100 million in altcoins from the Harmony Horizon bridge started laundering the funds according to PeckShield.
Coinspeaker Harmony Hackers Begin Laundering Funds Stolen from Horizon Bridge
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.
Harmony is working with two blockchain tracing and analysis firms and collaborating with the FBI, developers said.
The harmony attacker has begun moving the stolen crypto to Tornado Cash. According to Etherscan, the wallet used in last week's Harmony attack transferred a little over 18,036 ETH worth about $21 million at the writing time to a backup wallet.
The exploiter seems to have rejected the Harmony team's bounty offer of $1 million to return the $100 million stolen from the Horizon Bridge token bridge.
The thieves have sent $36 million of the $100 million in stolen Ethereum to a mixing service.
Layer 1 blockchain protocol Harmony (CRYPTO: ONE) has offered a bounty of $1 million for information about a theft on the Horizon bridge amounting to around $100 million, in which tokens including Wrapped Ethereum (CRYPTO: WETH), Aave (CRYPTO: AAVE), SushiSwap (CRYPTO: SUSHI), DAI (CRYPTO: DAI), Tether (CRYPTO: USDT) and USD Coin (CRYPTO: USDC) were stolen. "Harmony will advocate for no criminal charges when funds are returned," the company stated.
The $1 million bounty was not enough to convince the hacker to return the funds.
The hacker has started funneling funds via the Tornado Cash coin mixing service despite Harmony offering a $1 million bounty. The post Hacker begins laundering funds from $100 million Harmony bridge attack appeared first on The Block.
