ONE Keeps Trending Lower while Harmony Offers Hacker USD 1M in Bounty for Return of Funds
The team behind the layer-1 blockchain Harmony (ONE) has offered the Horizon Bridge hacker USD 1m in bounty for the return of some USD 100m in stolen funds.
"We commit to a [USD] 1M bounty for the return of Horizon bridge funds and sharing exploit information," Harmony said in a Twitter post on Sunday, sharing a contact email and an Ethereum (ETH) address.
The company also pledged not to advocate for criminal charges when funds are returned.
Meanwhile, the blockchain's native token ONE keeps dipping. At 7:26 UTC on Monday, the coin is down by more than 4% in a day and 11% in a week. Furthermore, it is down by nearly 94% compared to its all-time high.
The bounty is the latest attempt by the Harmony team to recover approximately USD 100m that was stolen last week from Horizon Bridge, a cross-chain interoperability platform between Ethereum, Binance Smart Chain (BSC), and Harmony blockchain networks.
Harmony first revealed the exploit in a tweet in the early hours of Friday morning, saying that they had "identified a theft occurring this morning on the Horizon bridge amounting to approx. [USD] 100MM." The team also claimed they began reaching out to cyber security specialists, exchanges, and the FBI.
The Harmony team stated that their investigation team is made up of engineers from around the world and across five time zones, including the US, Greece, India, and Cambodia.
In an update, blockchain analysis firm Elliptic said that the funds "were stolen on both Ethereum and Binance Smart Chain," detailing that a variety of crypto assets were taken, including Ethereum, Binance Coin, Tether, USD Coin, and Dai, all of which were swapped for ETH.
Stephen Tse, founder and CEO at Harmony, said in a Sunday tweet that they have found no
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