The Harmony Protocol team is offering a $1 million reward for information that leads to the return of $100 million in cryptocurrencies stolen from its Horizon Bridge. On June 26, the Harmony staff announced that $1 million would be invested in recovering the altcoin heist from the June 23 Horizon Bridge hack.
Not the Expected Bounty Price
The Horizon Bridge interlinks several massive blockchain networks: Harmony, Ethereum, Binance Chain, and Bitcoin. While the attack went directly for the chain that binds them together, the Bitcoin Bridge remains intact.
While $1M is quite an eye-opener as a bounty, some think this is not enough to catch the perpetrator who stole a massive amount of money. There have been several tweets on Harmony’s bounty, citing that they’re being cheapskate about it.
The $70-million reward offered by Harmony is not as large as some of the other well-known exploits this year. For example, the $10 million given to the Rari Fuse attacker in May was 12.5% of the total money stolen. In April, Beanstalk Finance’s team made a $7.6-million bounty: 10% if the money was retrieved.
The Harmony Protocol is the latest victim of what appears to be a coordinated attack on several high-profile cryptocurrency exchanges and protocols.
On June 23, the Horizon Bridge hack saw over $100 million in various cryptocurrencies stolen from the protocol. The Harmony team is now offering a $100,000 bounty for information that leads to the return of the stolen funds.
The attack on Horizon Bridge highlights the need for improved security measures in cryptocurrency. Exchanges and protocols must take steps to protect themselves and their users from these attacks. The Harmony Protocol team is committed to taking these steps and ensuring that its platform is secure.
