Tag: harmony protocol

Sep 23 2022

Harmony Protocol Amends Recovery Plan After $100 Million Horizon Bridge Exploit

Summary: The team published an amended bridge recovery plan featuring 0% token mints and treasury vault deployment. A previous plan recommended forking the chain and minting more ONE tokens but the community voted against such a move. Recovery plans became a hot topic in the Harmony community after the protocol's Horizon bridge suffered a $100 million hack. On-chain security firm Elliptic tied the...

Aug 03 2022

Crypto Hacks Drained Over $1 Billion From DeFi Protocols In 2022 So Far: SlowMist Report

Crypto Hacks account for over a billion in stolen funds in 2022 so far as hackers leverage Tornado Cash to launder proceeds.

Jul 28 2022

Harmony Team to Return to the Drawing Board After Plan to Mint Billions of ONE Causes a Stir in the Community

Summary: Harmony founder, Stephen Tse, has responded to community concerns over the recent reimbursement proposal involving the minting billions of ONE. Mr. Tse states that he has noted the community's suggestions and met with the team to discuss a way forward. The Harmony team will return to the drawing board to develop additional proposals. The team at Harmony (ONE) has announced via Twitter...

Jul 27 2022

Harmony Proposes Hard Fork, Minting of Billions of ONE to Make Hack Victims Whole

Summary: The Harmony Protocol team has proposed a reimbursement plan that involves hard-forking the chain. The plan involves two options: minting 4.97 billion ONE for full reimbursement or 2.48 billion ONE for 50% reimbursement. The minted ONE will then be distributed within three years. The team at Harmony protocol has proposed a reimbursement plan to make whole its community members affected by the...

Harmony Dangles 2 Billion Tokens To Pay Back Hack Victims – Who Aren’t Happy With Plan

Jul 27 2022 Published at Bitcoinist.com under tags  btcusd crypto news ethbtc ethereum ethusd

The Harmony protocol has been getting some flak since the company revealed a hard-fork plan that will generate approximately 5 billion of its native tokens to compensate the victims of the $100 million Horizon Bridge hack that occurred last month. Proposal for compensating those affected by the compromise of the Harmony Protocol cross-chain bridge has been laid down by the Layer 1 team...

Jun 30 2022

North Korean Lazarus Group Believed To Be Behind $100M Harmony Hack

North Korea’s Lazarus Group is believed to be behind the $100 million attack on Harmony Protocol’s Horizon bridge. Blockchain forensics company Elliptic said that there were several signs that suggested Lazarus executed the attack. North Korea is suspected to be behind several attacks on the DeFi market, catching the attention of authorities worldwide. North Korean hackers are the main suspects behind the $100...

North Korea’s Lazarus Group Behind $100 Million Horizon Hack, Harmony Initiates Global Manhunt

As per the latest report, the notorious Lazarus Group from North Korea is behind the $100-million hack of the Horizon bridge. As per the Bloomberg report, London-based Elliptic Enterprises was actively tracking the stole funds and has come to this conclusion. Washington believes that the Lazarus Group has been operating under the instructions of North...

Jun 27 2022

Harmony Dangles $1M Reward For Return Of $100M Stolen Funds – Is It Enough?

Harmony Protocol wants its money back. Seriously - and without any charges. Harmony has offered a $1 million bounty for anyone who can provide information that can lead to the retrieval of the stolen funds from the hack of its Horizon bridge. The company disclosed on June 24 that a hacker infiltrated their Horizon bridge firewall and carted off with an easy $100...

Jun 26 2022

Harmony Protocol Offers $1M Bounty for the Return of Stolen Funds and Information on the Bridge Exploit

Summary: Harmony Protocol has offered a $1 million bounty for the return of the stolen funds from the hack of its Horizon bridge and for information on how it happened. Harmony Protocols' founder has so far identified compromised private keys as the most likely root cause of the exploit. The team at Harmony Protocol has offered a $1 million bounty for the return...

Jun 25 2022

Harmony Protocol Suffers Hack

Following a number of recent crises in the cryptospace, Harmony Protocol is the latest project in the news. Based on reports, there was a theft of $100 million in cryptocurrency on the Harmony Protocol blockchain bridge, Horizon. There isn’t much information about the hackers, but Harmony has put out an address it believes to be responsible for the theft. In addition, they have...

Jun 24 2022

Harmony Protocol Succumbs To DeFi Exploit, $100 Million Stolen

Another decentralized finance (DeFi) protocol has fallen prey to an exploit. The Harmony protocol had been gaining popularity among DeFi users over the last year as the DeFi space bloomed. But it has now suffered the same fate as many protocols in the space. On Friday, the protocol announced that it has been the victim of a theft where the perpetrator(s) had made...

Jan 10 2022

DeFi Updates | OpenOcean Integrates Chainlink Keepers | Jan Week 1

The DeFi space has continued to grow exponentially and is showing no signs of stopping soon. This fast-rising sphere has also experienced a myriad of top- notch updates in recent times. To keep our readers informed, Altcoin Buzz has published ten of the top DeFi updates that took place last week. These top DeFi updates include strategic partnerships, events,...

Nov 30 2021

Top 10 DeFi Updates | DAO Maker Venture Yield | November Week 4

We expect to see a continued increase in DeFi investors as the year 2021 comes closer to a conclusion. Last week, several exciting updates took place in the decentralized finance (DeFi) space. To keep our readers informed, we have compiled ten of these top DeFi updates. The DAO Maker Venture Yield upgrade and DFG 200,000 DOT token investment in the Efinity...

Sep 13 2021

Harmony ($ONE) Protocol to Take the Crypto Space by Storm

Harmony ($ONE), a widely used cross-chain sharding protocol, has been in the spotlight recently for all the right reasons. Harmony ($ONE) has revealed amazing milestone achievements that have taken place on the platform. Certainly, Harmony has big intentions to take over the...

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