Harmony Protocol announces $1M Bounty for hacker

The project team behind Harmony Protocol is trying their best to get their funds back with all possible efforts.

Harmony Protocol is a Proof-of-stake blockchain. On 23 June, a hacker attacked its Horizon bridge and stole around $100 million worth of crypto assets. At that time the team didn’t reveal about this attack. But recently the team decided to disclose this matter openly.

On 26 June, Harmony Protocol took to Twitter to inform the users that its Horizon bridge faced an attack. Team also confirmed that they are working against this hack to catch the bad actors behind this incident.

Team said:

“Horizon bridge was exploited by one or more individuals, draining the bridge of approximately $100MM worth of Ethereum tokens…(..)…Our investigation team is working 24×7 to assist with identifying the culprits responsible, and the methods they used.”

Team also confirmed that it is doing an investigation in support of the FBI and other cybersecurity firms. And the Horizon bridge was suspended till the confirmation of bug.

Further the team announced a $1 million reward for the hackers at the cost to return funds back and also the team promised that it will not file any charge or suit against the actors. 

Now it will be interesting to see whether the hacker will return the funds or not. In the past, it has been seen many times that it was very rare that hackers returned stolen funds. 

In 2021, Biggest Defi exploit took placed with the Polygon network, where the hacker successfully grabbed $600 million but later returned funds to the team. Even hacker refused to accept bounty rewards & Job from Polygon. 

Read also: ⅓ Latin American users of MasterCard uses stable coin payment daily