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$100 million was stolen in a hacker attack on Horizon Bridge

Hackers withdrew $100 million as a result of a hacker attack on Horizon Bridge service by Harmony. More than half of the stolen funds were laundered through the Tornado.cash mixer.

On June 23, 2022, Horizon Bridge announced on its website as well as on Twitter that the service was temporarily suspending operations because it was attacked by hackers. More than $100 million was stolen by unidentified individuals.

In addition, the Horizon Bridge team announced a $1 million reward for the information that can help to find and recover the stolen funds. The blockchain project also offered not to contact the law enforcement agencies in case the hacker returns the stolen crypto-assets.

Blockchain bridge technology allows users to transfer their crypto-assets from one blockchain to another. For example, using Horizon Bridge service, users can transfer assets, including tokens, stablecoins and NFTs, between Ethereum, Binance Smart Chain and Horizon Bridge blockchains.

The TokenScope Team decided to take a look into the circumstances of the hacker attack on the Horizon Bridge, as well as to track the withdrawal chain over the past 3 days:

Thus, within 3 days, 54 000 ETH out of 85 837 ETH stolen by hackers were withdrawn via Tornado.cash. crypto mixer using the same transaction scheme.

According to some analysts, Lazarus Group, a group of North Korean hackers could be involved in hacking Horizon Bridge. This assumption is made because the withdrawal of funds presumably occurs according to some algorithm (the amount and the sequence of the withdrawal transactions during 3 days in all cases are identical), as well as the withdrawal time coincides with the time zone of the Asia-Pacific region.

TokenScope Team continues to follow the development of the hacker attack case on Horizon Bridge.

Successful investments in cryptocurrency projects and don't forget to check addresses for risks, it can help to save your funds! Also, you can report us any cases related to specific cryptocurrency addresses and the considered risks at TokenScope via "Reporting a cryptocurrency address" form. This will help to protect other users from the risks of interacting with such addresses and their owners.

The TokenScope Team
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