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Harmony Bridge Attacker Steals $6 Million Worth of ETH

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According to reports, Paidun monitoring showed that the Harmony Bridge attacker cleaned ETHs worth about US $6 million through the Harmony Horizon Bridge vulne…

Harmony Bridge Attacker Steals $6 Million Worth of ETH

According to reports, Paidun monitoring showed that the Harmony Bridge attacker cleaned ETHs worth about US $6 million through the Harmony Horizon Bridge vulnerability, concentrated them in the address beginning with 0xbae5, and then converted some ETHs into USDTs, and transferred some USDTs to Firecoin and Bybit.

Harmony Bridge attackers have laundered about $6 million of ETH and transferred some of it to Firecoin and Bybit

Interpretation of the news:


According to Paidun monitoring, a hacker successfully executed a device-level attack on the Harmony Bridge system and managed to steal ETH worth approximately $6 million. The hacker took advantage of a vulnerability in the Harmony Horizon Bridge, which is designed to enable the transfer of tokens between different blockchain networks. Once the attacker gained access to the system, they concentrated the stolen funds in an address beginning with the characters “0xbae5”.

Subsequently, the hacker proceeded to convert some of the stolen ETH into USDT tokens, which are a type of stablecoin pegged to the value of the US dollar. The attacker then allegedly transferred some of these USDT tokens to two different cryptocurrency exchanges, namely Firecoin and Bybit. It is unclear whether the attacker was successful in cashing out the stolen funds or if they are still holding onto them.

This type of attack is not uncommon in the world of cryptocurrency, where hackers are constantly on the lookout for vulnerabilities in blockchain networks that can be exploited for financial gain. While the Harmony Bridge system was designed to make it easier for users to transfer tokens between different blockchains, it also created a potential point of weakness that cybercriminals could exploit.

The incident is a harsh reminder of the importance of security in the world of digital assets. Due to the decentralized nature of blockchain networks, it is difficult to regulate and protect users from fraudulent activities. However, it is crucial to take proper precautions to secure one’s assets, such as using secure custody providers, implementing two-factor authentication, and avoiding suspicious links or emails that could lead to phishing scams.

In conclusion, the attack on the Harmony Bridge system highlights the need for constant vigilance when transacting in the world of digital assets. While the use of blockchain technology has brought significant benefits, it has also created new avenues for fraud and cybercrime. Therefore, it is essential to stay informed and take proactive measures to protect one’s assets from potential theft or loss.

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