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Horizon’s US$100 mln crypto hack prompts FBI investigation

·1 min read

The Federal Bureau of Investigation (FBI) and multiple cybersecurity companies have started investigating the US$100 million hack on Harmony Protocol’s Horizon cross-chain bridge.

See related article: Axie Infinity hack proceeds continue to be laundered despite US sanctions

Fast facts

  • The Horizon bridge allows users to transfer cryptocurrencies and assets from Harmony’s layer 1 blockchain to Ethereum, BNB Chain and Bitcoin.

  • Harmony Protocol said the exploit did not impact the trustless Bitcoin bridge, where assets are stored in decentralized vaults.

  • The theft may have taken place due to a compromised private key, PeckShield — the blockchain security firm tapped by Harmony — chief executive officer Xuxian Jiang reportedly told Bloomberg.

  • The hack on Harmony follows a string of attacks against blockchain bridges like Wormhole and the Ronin Bridge.

See related article: Perpetrator of South Korea’s ‘Bitcoin-gate’ untraceable