Horizon Bridge, Bridge Harmony layer-1 was exploited, the attacker took away the amount worth $100 million and they are being exchanged for Ether ().

Service demonstrated previous community concerns about the reliability of two of the 4 (multi-signature) is reported to help protect the bridge.

Starting from about 18:08 until 18:26 last night (UTC), 11 transactions were made from the bridge in exchange for various tokens. Since then, the hacker has started sending tokens to another wallet to swap for on a decentralized exchange (), then send the amount ETH This returns the original wallet.

So far, Frax (FRAX), Wrapped Ether (WETH), (), (), Frax Share (FXS), AAG (AAG), USD (BUSD). Dai (DAI), (), Wrapped (WBTC) and USD Coin () was stolen from the bridge via this exploit.

Horizon Bridge facilitates token movement between Harmony and the network , Chain and . Harmony, the bridge's operator, announced late on June 23 that the bridge was closed. It indicates the bridge and its assets are not affected by the attack.

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Harmony Development Team It also said it was working with "national authorities and forensic experts" to determine who the attackers were. The autopsy will certainly be carried out as soon as possible.

Harmony's developers and co-founders , Nick White, was unavailable for comment on this matter. Harmony to be layer-1, using the prof-of-stake consensus protocol with the native token ONE.

Users have repeatedly reported on the status of their wallets of Horizon on , this wallet only requires two out of four people to sign in order to be able to withdraw funds.

Founder of venture fund focused on Chainstride Capital, Ape Dev has note on Twitter on April 2 that the low number of people requesting signatures would likely leave the bridge in the face of “a case of 9 numbers”. And now, Ape Dev's prediction seems to have come true.

Ape Dev is not the only developer in the field expressed concerns about the security of the token bridge.

Vitalik Buterin discussed the problems with bridges in the above post in January. Founder Ethereum argues that when bridges are mined, it threatens liquidity on affected chains.

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He added that, as the number of token bridges increases, the threat of a 51% attack on one chain could pose a greater risk of infection to others.

Since Vitalik's prediction, Meter Bridge, Axie Inifinity's Ronin Bridge, and Wormhole Bridge, have suffered mining attacks totaling nearly $1 billion.

Most of the attacks are related to Multisig's security process. Ronin Bridge is secured by 9 validators, only 5 of which are required to verify a transaction. The attacker took control of the 5 required validators and took over $600 million in assets.

The market does not seem to have reacted to the attack yet, as the prices of all the coins and tokens mentioned did not show a sharp decline. However, ONE has dropped 7.4% in 24 hours, with most of the drop coming within the last 5 hours and is currently trading around $ 0.024.

Harmony

ONE Price Chart | Source: TradingView

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