The Horizon Bridge to the Harmony layer-1 blockchain has been exploited for $100 million in altcoins which are being swapped for Ether (ETH).
The hack may vindicate previously raised community concerns about the robustness of the two of four multisig that reportedly secures the bridge.
Starting at about 7:08 am until 7:26 am ET, 11 transactions were made from the bridge for various tokens. They have since begun sending tokens to a different wallet to swap for ETH on the Uniswap decentralized exchange (DEX), then sending the ETH back to the original wallet.
1/ The Harmony team has identified a theft occurring this morning on the Horizon bridge amounting to approx. $100MM. We have begun working with national authorities and forensic specialists to identify the culprit and retrieve