{"id":67592,"date":"2022-09-23T15:26:17","date_gmt":"2022-09-23T12:26:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=67592"},"modified":"2025-09-07T07:28:17","modified_gmt":"2025-09-07T04:28:17","slug":"harmony-unveils-new-plan-to-reimburse-100-million-to-horizon-bridge-hack-victims","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/harmony-unveils-new-plan-to-reimburse-100-million-to-horizon-bridge-hack-victims\/","title":{"rendered":"Harmony unveils new plan to reimburse $100 million to Horizon bridge hack victims"},"content":{"rendered":"<p>The Harmony project team unveiled a new plan to compensate victims of <a href=\"https:\/\/forklog.com\/en\/news\/hacker-steals-about-100-million-in-harmonys-horizon-cross-chain-bridge-attack\">the Horizon cross-chain bridge hack<\/a> for $100 million.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The <a href=\"https:\/\/twitter.com\/harmonyprotocol?ref_src=twsrc%5Etfw\">@harmonyprotocol<\/a> team would like to update our community and partners on our Horizon bridge asset recovery proposal. <\/p>\n<p>Key Takeaways:<\/p>\n<p>0\u20e3 \u2014 0% Mint<br \/>\ud83e\udd1d- Commitment from Foundation Treasury<\/p>\n<p>Read the full announcement here: <a href=\"https:\/\/t.co\/auW0Cm7Yd9\">https:\/\/t.co\/auW0Cm7Yd9<\/a><\/p>\n<p>A \ud83e\uddf5version \ud83d\udc47 <a href=\"https:\/\/t.co\/miSTZuo2KO\">pic.twitter.com\/miSTZuo2KO<\/a><\/p>\n<p>\u2014 Harmony \ud83d\udc99 (@harmonyprotocol) <a href=\"https:\/\/twitter.com\/harmonyprotocol\/status\/1573086847533809664?ref_src=twsrc%5Etfw\">September 22, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The initial plan was to carry out a hard fork and issue the necessary amount of native ONE tokens over three years. The plan provided for two options for additional issuance:<\/p>\n<ul class=\"wp-block-list\">\n<li>2.4 billion ONE \u2014 to compensate 50% of the losses;<\/li>\n<li>4.97 billion ONE \u2014 to cover 100% of the losses.<\/li>\n<\/ul>\n<p>However, users were almost unanimously <a href=\"https:\/\/forklog.com\/en\/news\/harmony-community-rejects-plan-to-compensate-horizon-hack-victims-worth-100-million\">opposed<\/a> to the plan due to potential inflationary effects. Harmony said it had listened to validators and the community and abandoned the idea of additional issuance.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We propose not to issue more ONE tokens and not to alter our tokenomics through a protocol hard fork. Instead, we propose directing treasury funds both to compensate the damages and to development,&#8221; the statement says.<\/p>\n<\/blockquote>\n<p>The project team added that it would present a detailed description of the plan in the near future.<\/p>\n<p>Following 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\">proposed<\/a> a reward of $1 million for the return of the stolen funds. The amount puzzled users, and a crypto trader under the alias Degen Spartan called it &#8220;insulting&#8221;. As a result, the offer was increased to $10 million.<\/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 Lazarus, a North Korea-linked hacker group. They are also <a href=\"https:\/\/forklog.com\/en\/news\/ethereum-address-linked-to-lazarus-group-sanctioned-by-us-hackers-tied-to-ronin-attack\">believed<\/a> to be <a href=\"https:\/\/forklog.com\/en\/news\/ronin-the-ethereum-sidechain-hacked-attacker-siphons-625-million\">involved<\/a> in the Ronin cross-chain bridge attack.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on 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>The Harmony team unveiled a new plan to compensate victims of the Horizon cross-chain bridge hack for $100 million.<\/p>\n","protected":false},"author":1,"featured_media":67593,"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-67592","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":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/67592","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=67592"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/67592\/revisions"}],"predecessor-version":[{"id":67594,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/67592\/revisions\/67594"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/67593"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=67592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=67592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=67592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}