Funds Stolen in Horizon Bridge Hack Are Laundered Through Tornado Cash
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Funds Stolen in Horizon Bridge Hack Are Laundered Through Tornado Cash

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Created 5mo ago, last updated 5mo ago

Approximately $100 million was stolen in the audacious hack targeting the Horizon bridge, which enables investors to swap cryptocurrencies between blockchains.

Funds Stolen in Horizon Bridge Hack Are Laundered Through Tornado Cash

Those responsible for hacking the Horizon bridge have started to launder the stolen Ethereum.

Alerts from PeckShield highlight that a series of transfers have been made to Tornado Cash, a platform that helps obfuscate crypto transactions.

This will fuel fears the hackers are determined to run off with their ill-gotten gains — rather than return them after highlighting a security exploit.

In a Twitter statement, Harmony Protocol — which runs the Horizon bridge — said:

"The team is working with two highly reputable blockchain tracing and analysis partners, and collaborating with the FBI as part of an investigation into this criminal act."

Harmony also said it's continuing to examine ways to secure the ecosystem — adding that it's determined to share information "in a timely manner with as much transparency as possible."

"We will share as much as possible without jeopardizing the efforts of those working alongside our incident response team. We're still willing to have a discussion with the hacker, but will continue the full investigation until resolution or the return of stolen funds."

Approximately $100 million was stolen in the audacious hack targeting the Horizon bridge, which enables investors to swap cryptocurrencies between blockchains.

As reported by CoinMarketCap Alexandria at the time of the hack, some in the crypto community had raised concerns about Horizon for months.

Back in April, @_apedev claimed the bridge's security was based on a multisig wallet that has just four owners, writing:

"So all in all, if two of the four multisig signers are compromised, we're going to see another nine-figure hack."

On Sunday, Harmony said that it was willing to offer a $1 million bounty if the funds stolen were returned — and even claimed it would "advocate for no criminal charges."

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