Horizon DeFi Protocol Hacked, $100 Million Stolen

The recent DeFi network thefts are unabated. This time, hackers who launched a cyber attack on Horizon, one of the blockchain bridges, signed a $ 100 million crypto heist.

Although there is little publicly shared information about the attack, Harmony, the developer of Horizon, said in a statement that the incident was detected on June 24.

In the tweets posted late the same day, it was stated that they were working with forensic experts and national authorities to identify the culprit and recover the stolen funds. At the same time, it was announced that cooperation with the FBI and many cyber security companies would be made to solve this problem.

Bridges in the blockchain structure, DeFi (decentralized finance) play a major role in the field. Users use DeFis to transfer crypto assets to different blockchains. For example, when you try to send an asset from the Ethereum network to the Binance Smart Chain, bridges like Horizon do the trick.

The hacking of Horizon Protocol isn’t the first DeFi theft this year. Similarly, in March, Ronin Network, one of the DeFi networks, was attacked, about $540 million by the hacker group Lazarus, which is thought to be affiliated with the North Korean government. it was stolen . These stolen funds allegedly helped North Korea circumvent sanctions to develop military technologies.

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