Harmony offers $1M bounty, but is it big enough?

Confidentiality is crucial to maintain integrity as part of this continuous examination. The omission of particular information is to protect delicate data in the interest of our neighborhood.– stephen tse s.one stse.eth (@stse) June 26, 2022
Tse said that the Ethereum side of the bridge had actually moved “to a 4-5 multisig given that the incident.” The vulnerability of the multisig wallet requiring simply 2 out of five signers was raised by a neighborhood member in April, but the problem was not addressed by the Harmony group up until now. A multisig wallet is a crypto wallet that requires numerous crucial holders to authorize a deal. These wallets are commonly used at crypto projects.As of the time of composing, the Horizon Bridge hacker has actually not moved the taken funds into Tornado Cash, an Ether (ETH) mixer, or any other anonymizer.Related: How can crypto stop getting hacked?Hope is not lost for Harmony, as its $1 million bounty is not the smallest proportional to the amount of funds lost. In 2021, the Poly Network interoperability platform was hacked for $610 million. The groups bounty deal of $500,000 was 0.08% of the total taken. The deal was rejected, but fortunately the funds were returned anyway.Read More

Harmony tweeted on June 26 that the group had actually dedicated $1 million for the return of the funds that were taken from the Horizon Bridge on June 23. It included, “Harmony will advocate for no criminal charges when funds are returned.

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Harmony tweeted on June 26 that the team had dedicated $1 million for the return of the funds that were stolen from the Horizon Bridge on June 23. It added, “Harmony will promote for no criminal charges when funds are returned. Issues have been raised that the modest bounty sum may not be enough to incentivize the aggressor to return the funds.The Horizon Bridge is a token bridge between the Harmony blockchain and the Ethereum network, Binance Chain, and Bitcoin. The Bitcoin bridge was not affected in this exploit.Compared to other prominent exploits this year, Harmonys bounty deal ranks low. These wallets are frequently used at crypto projects.As of the time of composing, the Horizon Bridge hacker has not moved the taken funds into Tornado Cash, an Ether (ETH) mixer, or any other anonymizer.Related: How can crypto stop getting hacked?Hope is not lost for Harmony, as its $1 million bounty is not the tiniest proportional to the amount of funds lost.

insulting amount, gfy https://t.co/TgZ0gDOC43— 찌 G 跻 じ Goblin of the (@DegenSpartan) June 26, 2022
In an incident response upgrade on the Horizon bridge hack on June 25, Harmony founder Stephen Tse tweeted that the hack was not the result of a smart agreement code breach, instead, the team found evidence that private secrets were jeopardized which led to the breach of the bridge. 1/ An incident action upgrade on the Horizon bridge hack

When funds are returned, harmony will advocate for no criminal charges.– Harmony (@harmonyprotocol) June 26, 2022
Nevertheless, issues have been raised that the modest bounty sum might not be enough to incentivize the assailant to return the funds.The Horizon Bridge is a token bridge in between the Harmony blockchain and the Ethereum network, Binance Chain, and Bitcoin. The Bitcoin bridge was not affected in this exploit.Compared to other high-profile exploits this year, Harmonys bounty deal ranks low. The $10 million provided to the Rari Fuse enemy in May was 12.5% of the overall stolen. The Beanstalk Finance group provided $ 7.6 million which was 10% of the overall exploited from the protocol in April. Harmonys bounty offer is so low that the crypto trader understood on Twitter as Degen Spartan called it an “insulting amount.” He added, “think of losing 100m and believing youre in a position to lowball for a 1% bounty lmwo these people are simply doing performance art to mitigate legal liability.” 1M?

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