Harmony Bridge Attacker Continues to Steal Millions Worth of Assets

02/13/2023 12:49 • Daily Digest • 176 views

According to the report, according to the Beosin EagleEye security risk monitoring, warning and blocking platform monitoring of Beosin, a blockchain security audit company, on February 13, 2023, the Harmony Bridge attacker was continuing to transfer stolen assets. Today, more than 2600 ETHs were transferred, with a value of about US $3.9 million.

Harmony Bridge attacker transferred about $3.9 million

Interpretation of the news:

The Beosin EagleEye, a blockchain security audit company, recently reported on the continuing theft of assets by the Harmony Bridge attacker. The attacker has been able to transfer more than 2600 ETHs or Ethereum, currently with a value of about US $3.9 million. This news is alarming for individuals and companies who rely on blockchain technology for asset management and transactions.

The Harmony Bridge attack happened on December 28, 2022, where a contract vulnerability was exploited to steal assets. The attacker was able to bypass the smart contract’s security measures and transfer assets from the Harmony Bridge contract to their own wallet. This event highlighted the risk of having smart contract vulnerabilities, which could result in loss of assets and damage to businesses.

The Beosin EagleEye security risk monitoring, warning, and blocking platform has been keeping a close eye on the stolen assets and the actions of the Harmony Bridge attacker. Their monitoring indicates that the attacker is continuing to transfer stolen assets, despite the efforts of authorities and the blockchain community.

The situation is concerning because it shows that blockchain technology still faces security risks and that it is not entirely immune to cyberattacks. While blockchain offers transparency, decentralization, and security for asset management and transactions, the underlying smart contracts and platforms are still susceptible to vulnerabilities.

To mitigate the risk of attacks and theft, companies and individuals must put security measures in place, such as conducting security audits, implementing multi-factor authentication, and using secure wallets. The blockchain community also needs to work together to identify and address vulnerabilities, and authorities must take swift action to apprehend attackers and recover stolen assets.

In conclusion, the continued theft of assets by the Harmony Bridge attacker is a cause for concern, and it highlights the need for constant vigilance and proactive security measures when working with blockchain technology. Companies and individuals should take measures to secure their assets, and the blockchain community should continue to work towards improving the security and reliability of blockchain technology.

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Harmony Bridge Attacker Continues to Steal Millions Worth of Assets

Harmony Bridge attacker transferred about $3.9 million

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