Concordance’s $100M Hack Was Due to a Compromised Multi-Sig Scheme, Says Analyst – Bitcoin News
On June 23, 2022, the Harmony improvement group reported that $100 million was guided from the Horizon span, and the association made sense of it was working with public specialists and criminological trained professionals. As per a record distributed Polygon’s central data security official, Mudit Gupta, the Horizon span aggressor purportedly assumed command over the multi-signature wallet utilized together as one bridge.
Harmony’s Multi-Sig Exploited Polygon’s CSO Says, Harmony Protocol’s Founder Found Evidence That ‘Private Keys Were Compromised’
Three days prior, Harmony made sense of that it was gone after and the group saw $100 million guided from the Horizon span. “The Harmony team has identified a theft occurring this morning on the Horizon bridge amounting to approx. $100 [million],” Harmony tweeted on Thursday. “We have begun working with national authorities and forensic specialists to identify the culprit and retrieve the stolen funds,” the Harmony group added.
Following the endeavor, the exceptionally following day, Polygon’s central data security official, Mudit Gupta, said that the extension was a 2 of 5 multi-signature plan, and anybody with two of the addresses can assume command over it. “The hacker compromised 2 addresses and made them drain the money,” Gupta added. Gupta said while the subtleties aren’t public yet he summed up what he accepts occurred during the hack. “The two addresses were likely hot wallets used to listen for and process legit bridging transactions,” Gupta explained.
“The attacker compromised the server(s) that these hot wallets were running on,” the Polygon CSO composed on Friday. “Once inside the server, they could access the keys that were kept in plaintext for signing legit transactions. The server exploit was likely either SSH key compromise or social engineering. This is eerily similar to how Ronin was hacked.” The investigator further added:
This was not a ‘Blockchain Hack.’ It was a ‘Traditional Hack.’ I’ve been asking conventions to zero in on customary security too close by blockchain security throughout recent months…
Furthermore, an incident report composed by the Harmony Protocol’s founder says “the team has found evidence that private keys were compromised, leading to the breach of our Horizon bridge — Funds were stolen from the Ethereum side of the bridge.” The Harmony organizer likewise noticed that “confidentiality is key to maintain integrity as part of this ongoing investigation — The omission of specific details is to protect sensitive data in the interest of our community.”
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100 million, 2 of 5 multi-signature plot, Confidentiality, decentralized finance, DeFi, defi hacks, Harmony Hack, Harmony Protocol, Harmony Protocol’s pioneer, Horizon Bridge, Horizon span Exploit, episode report, Mudit Gupta, Multi-signature, Polygon CSO, Ronin Exploit, touchy information, Stolen reserves
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Jamie Redman
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