Harmony offers $1M bounty, but is it big enough?
The Harmony layer-1 blockchain project team has offered a bounty equal to just 1% of the $100 million in crypto stolen from the Horizon Bridge hack last week.
Harmony tweeted on June 26 that the team had committed $1 million for the return of the funds that were stolen from the Horizon Bridge on June 23. It added, “Harmony will advocate for no criminal charges when funds are returned.”
We commit to a $1M bounty for the return of Horizon bridge funds and sharing exploit information. Contact us at whitehat@harmony.one or ETH address 0xd6ddd996b2d5b7db22306654fd548ba2a58693ac. Harmony will advocate for no criminal charges when funds are returned.
However, concerns have been raised that the modest bounty sum may not be enough to incentivize the attacker to return the funds.
The Horizon Bridge is a token bridge between the Harmony blockchain and the Ethereum network, Binance Chain, and Bitcoin. The Bitcoin bridge was not affected in this exploit.
Compared to other high-profile exploits this year, Harmony’s bounty offer ranks low. The $10 million offered to the Rari Fuse attacker in May was 12.5% of the total stolen. The Beanstalk Finance team offered $7.6 million which was 10% of the total exploited from the protocol in April.
Harmony’s bounty offer is so low that the crypto trader known on Twitter as Degen Spartan called it an “insulting amount.” He added, “imagine losing 100m and thinking you're in a position to lowball for a 1% bounty lmwo these people are just doing performance art to mitigate legal liability.”
1M?insulting amount, gfy https://t.co/TgZ0gDOC43
In an incident response update on the Horizon bridge hack on June 25, Harmony founder Stephen Tse tweeted that the hack was not the result of a smart contract code breach,
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