Friday, June 21, 2024

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Harmony Offers $1M For Bounty

The Harmony team says it’ll provide $1 million to the hacker United Nations agency exploited the Horizon Bridge for $100 million, however that will not be enough to induce the funds back.

The Harmony layer-1 blockchain project team has offered a bounty adequate simply I Chronicles of the $100 million in crypto taken from the Horizon Bridge hack last week. It added, “Harmony can advocate for no criminal charges once funds are coming back.”

However, issues are raised that the modest bounty total might not be enough to incentivize the assailant to come to the funds.

The Horizon Bridge could be a token bridge between the Harmony blockchain and also the Ethereum network, Binance Chain, and Bitcoin. The stalk Finance team offered $7.6 million which was 100% of the overall exploited from the protocol in the month of April.

Harmony’s bounty provides is therefore low that the crypto merchandiser knew on Twitter as Degen Spartan referred to as it’s associate “insulting quantity.” He added, “imagine losing 100m and thinking you’re in a position to guess for a tenth bounty lmao these individuals are simply doing performance art to mitigate legal liability.”
In an event response update on the Horizon bridge program on June 25, Harmony founder author Tse tweeted that the hack wasn’t the result of a sensible contract code breach, instead, the team found proof that non-public keys were compromised that semiconductor diode to the breach of the bridge.

Tse aforementioned that the Ethereum facet of the bridge had migrated “to a 4-5 multisig since the incident.” The vulnerability of the multisig notecase requiring simply 2 out of 5 signers was observed by a community member in April, however, the difficulty wasn’t self-addressed by the Harmony team as yet.

A multisig notecase could be a crypto notecase that needs multiple key holders to approve a deal. These wallets are ordinarily used at crypto comes.

As of the time of writing, the Horizon Bridge hacker has not enraptured the taken funds into Tornado money, associate Ether (ETH) mixer, or the other anonymizer.
Hope isn’t lost for Harmony, as it’s $1 million bounties isn’t the littlest proportional to the number of funds lost.

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