The Federal Bureau of Investigation (FBI) and multiple cybersecurity companies have started investigating the US$100 million hack on Harmony Protocol’s Horizon cross-chain bridge.
See related article: Axie Infinity hack proceeds continue to be laundered despite US sanctions
- Harmony Protocol announced it was attacked on Friday morning Asia time, adding it had alerted exchanges of the suspect’s blockchain wallet address and halted the Horizon bridge.
- The Horizon bridge allows users to transfer cryptocurrencies and assets from Harmony’s layer 1 blockchain to Ethereum, BNB Chain and Bitcoin.
- Harmony Protocol said the exploit did not impact the trustless Bitcoin bridge, where assets are stored in decentralized vaults.
- The theft may have taken place due to a compromised private key, PeckShield — the blockchain security firm tapped by Harmony — chief executive officer Xuxian Jiang reportedly told Bloomberg.
- The hack on Harmony follows a string of attacks against blockchain bridges like Wormhole and the Ronin Bridge.
See related article: Perpetrator of South Korea’s ‘Bitcoin-gate’ untraceable