Hackers have stolen $100 million in cryptocurrency from Horizon, a blockchain bridge, in the latest massive decentralized finance heist.
There aren’t enough details about the hack, but Harmony, the developers behind Horizon, said they identified the theft Wednesday morning. Harmony said that they believe one account is the culprit.
“We have begun working with national authorities and forensic specialists to identify the culprit and retrieve the stolen funds,” the start-up said in a tweet late Wednesday.
In a follow-up tweet, Harmony said it’s collaborating with the Federal Bureau of Investigation and multiple cybersecurity firms to investigate the attack.
Blockchain bridges are big player in the DeFi space. The technology offers a medium for users to send their assets from one blockchain to another. In Horizon’s case, users can transfer tokens from the Ethereum network to Binance Smart Chain. Harmony said the attack did not affect a separate bridge for bitcoin.
Bridges “maintain large stores of liquidity,” making them a “tempting target for hackers,” according to Jess Symington, research lead at blockchain analysis firm Elliptic.
