{"id":65020,"date":"2022-07-28T14:34:03","date_gmt":"2022-07-28T11:34:03","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=65020"},"modified":"2025-09-06T17:40:56","modified_gmt":"2025-09-06T14:40:56","slug":"harmony-community-rejects-plan-to-compensate-horizon-hack-victims-worth-100-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/harmony-community-rejects-plan-to-compensate-horizon-hack-victims-worth-100-million\/","title":{"rendered":"Harmony community rejects plan to compensate Horizon hack victims worth $100 million"},"content":{"rendered":"<p>Harmony founder Stephen Tse said that the team will revisit the proposal to compensate victims of the <a href=\"https:\/\/forklog.com\/en\/news\/hacker-steals-about-100-million-in-harmonys-horizon-cross-chain-bridge-attack\">Horizon cross-chain bridge hack<\/a> worth $100 million by issuing additional native ONE tokens.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/HarmonyONE?src=hash&#038;ref_src=twsrc%5Etfw\">#HarmonyONE<\/a> founder Stephen Tse provided the community with a response and next steps on the recent proposal.<\/p>\n<p>\u00abFrom your suggestions and feedback above, we will create additional proposals and opportunities for everyone to engage in the process.\u00bb<\/p>\n<p>More \ud83d\udc47<a href=\"https:\/\/t.co\/GytUpuM4WJ\">https:\/\/t.co\/GytUpuM4WJ<\/a><\/p>\n<p>\u2014 Harmony \ud83d\udc99 (@harmonyprotocol) <a href=\"https:\/\/twitter.com\/harmonyprotocol\/status\/1552524230138269696?ref_src=twsrc%5Etfw\">July 28, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Initially, the developers <a href=\"https:\/\/talk.harmony.one\/t\/reimbursement-proposal-horizon-incident\/20665\">proposed<\/a> to compensate victims by conducting a hard fork and issuing the required amount of ONE over three years. The plan envisaged two options for additional issuance:<\/p>\n<ul class=\"wp-block-list\">\n<li>2.4 bn ONE \u2014 compensation for 50% of the damage;<\/li>\n<li>4.97 bn ONE \u2014 for 100%.<\/li>\n<\/ul>\n<p>The team noted that treasury funds are insufficient for compensation and they do not consider using them for this purpose.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We have decided not to use the treasury of the fund in the interests of the project&#8217;s durability and well-being, as compensation from these funds would severely hamper the structure&#8217;s ability to sustain Harmony&#8217;s growth and its ecosystem,&#8221; the proposal states.<\/p>\n<\/blockquote>\n<p>The plan drew near-unanimous backlash from users. Most pointed to its inflationary nature, which would dilute the price. Some noted that it would hit large ONE holders the hardest.<\/p>\n<p>The decision not to use treasury funds also drew criticism from users.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/bOVh-oDUngLNkVLLoyFEuqcacTvMkwSb5FtzgcnwEJlAeak_EytDmy23B1II4EOCJgudg9bmU1k-etJIKge7lKgkG5pxbiOQx_CmcjsFtO9w-aqQG6RzettZ1q7x_1xi4jJPs1XnmTB_KFRD3RlVing\" alt=\"Harmony community rejects plan to compensate Horizon hack victims worth $100 million\"\/><figcaption>Data: Harmony.<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;All you need to do now is say something like: &#8216;After careful consideration and feedback from the $ONE community, we will NOT move forward with the proposal.&#8217; And you should do that as soon as possible,&#8221; urged one commenter to the team.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Hey <a href=\"https:\/\/twitter.com\/harmonyprotocol?ref_src=twsrc%5Etfw\">@harmonyprotocol<\/a>,<\/p>\n<p>All you need to do now is say something like, \u00abafter careful consideration and feedback from the <a href=\"https:\/\/twitter.com\/search?q=%24one&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$one<\/a> community, we will NOT move forward with the proposal\u00bb.<\/p>\n<p>You need to do that ASAP. \ud83e\udd1d<\/p>\n<p>\u2014 Paco \ud83d\udc99 (@PacoG2021) <a href=\"https:\/\/twitter.com\/PacoG2021\/status\/1552357254036262912?ref_src=twsrc%5Etfw\">July 27, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Voting on the proposal ends on August 3. However, in light of user reaction, just a day after it was put up for discussion, the project\u2019s founder said the team is &#8220;getting back to the table&#8221; to develop other options.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Based on your feedback, we will create additional proposals and opportunities for everyone who can participate in this process. I ask you to wait a few days while we work with the team. We will return with new information. I sincerely understand your disappointment with the current proposal. We hope that our next steps will bring more options and clarity for discussion with the community,&#8221; Tse wrote.<\/p>\n<\/blockquote>\n<p>After the Horizon attack, the Harmony team <a href=\"https:\/\/forklog.com\/en\/news\/harmony-offers-1-million-bounty-for-return-of-100-million-stolen-from-horizon-bridge\">offered a reward of $1 million<\/a> for the return of the stolen funds. The size of the reward puzzled users, and a crypto trader going by the alias Degen Spartan called it &#8220;an insulting amount&#8221;. As a result, the offer was increased to $10 million.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">3\/ Our FINAL term: Retain $10M and return the remaining stolen amount. In exchange, Harmony will cease its investigation.<\/p>\n<p>\u2014 Harmony \ud83d\udc99 (@harmonyprotocol) <a href=\"https:\/\/twitter.com\/harmonyprotocol\/status\/1542327336598573056?ref_src=twsrc%5Etfw\">June 30, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Elliptic <a href=\"https:\/\/forklog.com\/en\/news\/elliptic-lazarus-hackers-may-be-behind-horizon-attack\">believe<\/a> that the Horizon attack may have been carried out by the North Korea\u2013linked Lazarus group. It is also allegedly <a href=\"https:\/\/forklog.com\/en\/news\/ethereum-address-linked-to-lazarus-group-sanctioned-by-us-hackers-tied-to-ronin-attack\">involved<\/a> in the <a href=\"https:\/\/forklog.com\/en\/news\/ronin-the-ethereum-sidechain-hacked-attacker-siphons-625-million\">attack<\/a> on the Ronin cross-chain bridge.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Harmony founder Stephen Tse said that the team will revisit the proposal to compensate victims of the Horizon cross-chain bridge hack worth $100 million by issuing additional native ONE tokens.<\/p>\n","protected":false},"author":1,"featured_media":65021,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1309,1154,2139],"class_list":["post-65020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-compensation","tag-crimes","tag-harmony-one"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=65020"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65020\/revisions"}],"predecessor-version":[{"id":65022,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65020\/revisions\/65022"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/65021"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=65020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=65020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=65020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}