Binance Chain, Ethereum, and Bitcoin's layer-1 primary bridge were all exploited, while the BTC bridge was unaffected.

Horizon Bridge is the most recent system to be compromised. Thursday saw a malicious attack on the proprietary Horizon Blockchain bridge, according to US crypto platform Harmony. Horizon Bridge managed $100 million in altcoins after an attacker exploited a vulnerability and stole them.

To your knowledge, Blockchain bridges or cross-chain bridges allow users to transfer assets such as NFTs, stablecoins, and tokens across the Binance Smart Chain, Ethereum, and Harmony Blockchains. Specifics of the Fraud

The assault began at approximately 7:08 am EDT and continued until 7:26 am EDT. During this time, there were eleven transactions from Horizon for various tokens. Now, the attacker is attempting to exchange them for ETH by sending tokens to a different wallet on Uniswap DEX (decentralized exchange) and ETH back to their original wallet.

Harmony tweeted that an attacker had stolen $100 million from their Blockchain bridge. According to Elliptic, a company that analyzes blockchains, a number of cryptocurrencies were stolen, including Binance Coin, Ethereum, Dai, and USD Coin. However, Harmony's Bitcoin (BTC) bridge was unaffected. Company's Reaction

According to the company's blog post, as soon as the incident was detected, various cybersecurity partners, exchange partners, forensic experts, and the FBI were enlisted to identify the perpetrator and recover the stolen assets.

*** The Harmony team has identified a heist of around $100 million that occurred this morning on the Horizon bridge. We have begun collaborating with national authorities and forensic experts to locate the thief and recover the stolen money. ***

In addition, the team engaged with the attacker and sent a transaction containing an embedded message to their address. Additionally, Harmony blocked new transactions on the Horizon bridge. Harmony did not disclose how the monies were stolen or the underlying vulnerability.