Hackers steal $100 million in Horizon cryptocurrencies

Hackers steal $100 million in Horizon cryptocurrencies

On June 22, hackers stole around $100 million worth of Horizon (HZ) cryptocurrencies. The great heist was made to the decentralized finance market (DeFi, for its acronym in English).

(Read: The volatility of the new markets).

harmony, the company Horizon developer, has not provided much information about what happened. According to publications on their social networks, the theft was discovered on Wednesday the 22nd and is already being investigated by the competent authorities.

“We have started working with national authorities and forensic specialists to identify the culprit and recover the stolen funds.”, said the company through Twitter.

Preliminary versions indicate that the theft could be the product of a failure caused by the code vulnerabilities underlying the so-called block chain bridges, which are the ones that allow users to transfer their assets from one chain of blocks (Blockchain) to another.

Regarding the cryptocurrency, users can send tokens from the Ethereum network to the block chain Binance SmartChain. Harmony also clarified that the network that communicates with Bitcoin has not been affected or violated in this theft.

A Horizon investor assured that this is not the first time that deficiencies have been registered in the chain bridges of blocks in the company. Therefore, it is believed that the hackers had access to the passwords that allow them to carry out robberies on the bridges.

For their part, those who made transactions were already notified by the company and the flow of transaction through that bridge was stopped. “We will keep everyone updated as we investigate this further and get more information,” Horizon wrote on her Twitter account.

(Also: They prepare regulations for cryptocurrencies in the country).


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