Police Alerted After Harmony Attacker Transfers $44 Million in Stolen Ether
- The “Horizon Bridge Exploiter” exploiter wallet transferred over 36,000 ether (ETH) worth over $44 million in the last 26 hours, according to blockchain statistics.
- According to blockchain data, last night was the first time the hacker responsible for last week’s $100 million Harmony network vulnerability moved money worth millions of dollars in cryptocurrency.
Harmony, a blockchain software company, has alerted authorities after an attacker moved over $44 million worth of stolen ether.
The Harmony team is working with two blockchain tracing and analysis firms to track the stolen funds and is also collaborating with the FBI.
Developers urged anyone who may have been affected by the attack to reach out to them for help. They also advised users to be extra vigilant in securing their accounts and warned that such attacks could become more common as Harmony and other blockchain platforms grow in popularity.
It is still unclear how the hacker was able to exploit the Horizon bridge and what exactly they did with the stolen funds. However, it is believed that they used a combination of malicious smart contracts and software vulnerabilities to steal the money.
Harmony’s team is working hard to track down the hacker and recover the stolen funds. They are also working with other blockchain analysis firms and the FBI to try and catch the culprit.
This is not the first time that hackers have taken advantage of vulnerabilities in Ethereum-based protocols. In June 2020, a group of hackers exploited a flaw in an Ethereum-based lending platform called “dForce” to steal over $25 million worth of crypto assets.
As more and more people begin using crypto assets, it is becoming increasingly important for developers to build secure protocols and platforms. Harmony’s team is committed to doing just that, and they will hopefully be able to catch this latest hacker soon.
Based on blockchain data, the wallet known as “Horizon Bridge Exploiter” moved over 36,000 ETH within a 26-hour time span. This is equivalent to approximately $44 million USD.
This activity caught the attention of many in the crypto community, given the large sum of money involved.
What is certain is that this event highlights once again the importance of security in the cryptocurrency world. With so much money at stake, hackers will continue to target exchanges and wallets in an attempt to steal funds. As such, it is crucial for users to take precautions and only store their assets on trusted platforms with robust security measures.
Barry Pene is a stern blockchain research/copywriter. Barry has been trading cryptos since 2017 and has been invested in issues that would put the blockchain industry on the right pedestal. Barry's research expertise cuts across blockchain as a disruptive technology, DeFis, NFTs, Web3, and reduction of energy consumption levels of cryptocurrency mining.
