Harmony offers $1M bounty, but is it big enough?
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The Harmony team says it will offer $1 million to the hacker who exploited the Horizon Bridge for $100 million, but that may not be enough to get the funds back.
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.
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.”
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