blockworks.co
Horizon Bridge, a cross-chain interoperability platform between Ethereum, Binance Smart Chain (BSC) and Horizon blockchains, has been hacked for $100 million.
The Harmony team said Thursday it has been made aware of the theft and has begun working with national authorities as well as forensic specialists to identify the attacker in an attempt to retrieve the stolen funds.
The team also said the hack did not impact the trustless Bitcoin bridge as funds and assets are stored on decentralized vaults and are considered “safe at this time.”
Blockworks attempted to contact Harmony but is yet to receive a response.
It’s the latest in a string of hacks against protocols, bridges and projects including a $20 million theft from Ethereum scaling solution Optimism earlier this month and a $320 million hack against Solana bridge Wormhole in February.
Harmony, a layer-1 blockchain, enables cross-chain transfers of digital assets between Ethereum and itself, as well as BSC, via a set of smart contracts deployed across those three chains. Users holding assets including stablecoins, ERC-20 tokens or Binance’s BEP-20 tokens can exchange them for corresponding assets on Harmony for a 1:1 ratio.
In a later tweet update on Thursday, Harmony’s team said it had identified the address of the hacker.
“We have also notified exchanges and stopped the Horizon bridge to prevent further transactions. The team is all hands on deck as investigations continue,” the team said.
Further updates are expected in the coming hours. This is a developing story and will be updated accordingly.
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