Fri. 24 Jun 2022, 10:32am ET Benzinga Cryptocurrency, News, Top Stories, Markets

The Horizon bridge enabling the transfer of crypto assets between the Harmony (CRYPTO: ONE) and Ethereum (CRYPTO: ETH) blockchains has been hacked and $100 million worth of assets were stolen.

What Happened: Harmony's official Twitter Inc. (NYSE:TWTR) account announced on Friday it has detected a theft on the Horizen bridge this morning totaling about $100 million. The team wrote: "We have begun working with national authorities and forensic specialists to identify the culprit and retrieve the stolen funds."

See Also: How To Earn Free Crypto

Currently, the Horizon bridge's activity has been stopped to prevent further value extraction by malicious actors as the team continues to investigate.

On-chain data shows the primary address siphoned out 84,620,000 AAG Ventures (CRYPTO: AAG) tokens for a current value of more than $1 million after a 20% fall; 110,000 Frax Share (FXS) worth more than $572,000; 415,000 SushiSwap (CRYPTO: SUSHI) worth more than $522,000; 990 Aave (CRYPTO: AAVE) worth more than $67,000, 43 Wrapped Ethereum (WETH) worth more than $50,000, and a separate transaction for 5,620,000 Frax (CRYPTO: FRAX) worth more than $29 million. 

A secondary address got its hands on 44,619,999 AAG worth more than $572,000 and a tertiary address stole 5.530 million of Binance USD (CRYPTO: BNB) and 43 WETH worth about $52,000.

Harmony's estimate of $100 million worth of assets implies that there are also more addresses involved in the hack.

ONE Price Action: As of press time Friday morning, Harmony's token is trading at $0.02554 after seeing its price fall by 2.69% over the last 24 hours.

Photo: everything possible via Shutterstock