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Consistency reveals a $1 million bounty for Horizon bridge taken funds healing

Harmony announces a $1 million bounty for Horizon bridge stolen funds recovery Harmony reveals a $1 million bounty for Horizon bridge taken funds healing Abdulrasaq Ariwoola ·56 minutes ago · 1 minutes read

The network in addition to the bounty guaranteed to promote for no criminal charges versus the hacker. What are the possibilities of the healing?

1 minutes read

Updated: June 26, 2022 at 7: 36 pm

Harmony announces a $1 million bounty for Horizon bridge stolen funds recovery

Cover art/illustration through CryptoSlate

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Harmony network on June 24 exposed a hacker had actually exploited its horizon bridge and made away with $100 million. The Layer-1 blockchain, nevertheless, revealed on June 26 that it is using a $1 million bounty for its healing.

We dedicate to a $1M bounty for the return of Horizon bridge funds and sharing make use of info.

Contact us at [email protected] or ETH address 0xd6ddd996 b2d5b7db22306654 fd548 ba2a58693 air conditioning.

Harmony will promote for no criminal charges when funds are returned.

— Harmony (@harmonyprotocol) June 26, 2022

This statement follows a comparable pattern embraced by crypto organizations that suffer exploits to try a healing of taken funds.

Harmony earlier mentioned that it had actually “started dealing with nationwide authorities and forensic professionals to determine the perpetrator and recover the taken funds.”

The statement of the bounty is possibly an additional effort to motivate the hacker to return the profits of the make use of. Consistency specified that it “will promote for no criminal charges when funds are returned.”

Is healing possible?

The Horizon bridge attack includes to a growing list of cross-chain bridges in 2022 and is one of the greatest. The critical concern stays whether Harmony might recuperate the taken funds.

Earlier in June, Optimism Foundation had the ability to recuperate funds taken in a hack that caused the loss of 20 million Optimism (OP) tokens. The Foundation exposed the hacker to be a whitehat, an ethical security hacker. Furthermore, the hacker kept 2 million tokens as a bounty.

Likewise, Poly Network suffered a $610 million make use of in August 2021 and it revealed a $500,000 bounty for its healing. As remained in Optimism’s case, the hacker returned the taken and even scored a task deal from Poly Network.

On the other hand, cross-chain bridges, Wormhole and Ronin, were unable to recuperate the earnings of exploits on their bridges.

Meanwhile, Harmony’s native ONE token dropped on the news of the hack however has actually somewhat recuperated. According to CoinMarketCap, the token is now trading at $0.024, a 0.30% boost in the last 24 hours.

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