Summary of the Horizon Bridge Incident

Ok, thanks. I have not found this reference but probably my fault. Also I just want to highlight the fact that on AAVE all assets are locked, so in theory value is ZERO.

Any thought of deploying a bridge onto MAP Protocol?

Actually there are enough funds to peg 1:1 up to 1DAI tokens in ascending order of liquidity for less than half the amount of tokens in the treasury, this means you could repeg a good portion of the tokens and fail to do so with only four of them with the largest liquidity. But in fact this provides a good starting point to recover DeFi on the chain, this will actually provide utility to the chain and increase the value of ONE, executing the corresponding peg over a period of time of each token by the capacity of the treasury will provide hope and not only exit liquidity with zero sum value as proposed with a reimbursement. Fail to regain DeFi and no ONE will consider using harmony for their own projects and actually if they have something running they will only abandon the chain.


AAVE is one of the dapps that could benefit from 1:1 peg of some assets on the bridge, they could actually resume some markets related to assets that gain the peg, this will force people to provide ONE to gain access to assets that have lose peg and were dumped to extract ONE.

1 Like

you should discuss this in the reimbursement proposal thread since this thread is for the bridge hack

This would be great. At the moment I have assets frozen in Celsius and in AAVE. Celsius is communicating with me.

1 Like

I really want the team to hear me and put their minds into what I say, I am really certain that what I am telling is possible and will benefit the chain, the current threat on the proposals is less likely that someone from the team will read my comment and they will only continue with the idea of a reimbursement that is a great mistake, you give ONE tokens in the treasury to people and they will dump them to recover some value at the cost of everyone holding ONE. For me this is so clear that I really don’t see why team members with so many at their hands mention reimbursement when simple economic principles tell anyone with some degree or experience that a reimbursement is a mistake and the only solution is to peg tokens on the bridge.

1 Like

I also want to have communication with the team but it looks like they are absent.

Anyone with has hacker addresses to be tracked ? Have the funds continue to be moving ?

Any chance of them getting it back ?

1 Like

The funds stopped moving for about one month and if they are recovered the fbi would most likely take custody and there would be court proceedings that tie up the stolen assets for awhile.

1 Like

I honestly do not care about the story behind this.
I (and many others) care about the fact that we had stables on Harmony and didn’t even use the bridge for that, yet these are worth a fraction right now. This isn’t just about the ‘horizon bridge incident’ but about ncompetence of the team and bridge economics.
Nothing to do about it, but if the pegs don’t get restored this is the end of harmony and it’s probably better for everyone in that case.


just keep building, good one

Hi, when will be available bridge? I want to use Ethereum and BSC bridge.