Hacker stole about $100 million during the attack on the Horizon cross-chain bridge of the Harmony protocol

The team of the Harmony blockchain platform reported an attack on the Horizon cross-chain bridge, as a result of which an attackerstole assets worth about $100 million.

An unknown person withdrew the tokens in several transactions, after which he sent them to another wallet and exchanged them on the Uniswap decentralized exchange.

Horizon is a cross-chain bridge between the Harmony blockchain and the Bitcoin, Ethereum, and Binance Chain networks.

Harmony has suspended Horizon. They also stated that they had launched an investigation with law enforcement, including the FBI, and notified cryptocurrency exchanges of the situation.

The team assured that the incident did not affect the trustless bridge for bitcoin - all funds are safe in decentralized vaults.

Amid the hack, the Harmony (ONE) token fell 9.4% overnight, at the time of writing, its value is around $0.024, according to Coingecko.

Recall that this is not the first attack on the cross-chain bridge inthis year. In February, hackers withdrew more than $319 million from the Wormhole cross-chain bridge pool based on Solana, and also stole about $4.3 million in bitcoin and Ethereum from DeFi company Meter.

In March, during an attack on the Ronin sidechain, an attacker stole crypto assets worth about $625 million.

Ethereum founder Vitalik Buterin said earlier that he was “pessimistic” about cross-chain bridges. In his opinion, the latter are vulnerable to 51% attacks.

According to Immunefi, in the first quarter of 2022 alone, crypto projects lost more than $1.22 billion as a result of the actions of hackers and fraudsters.

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