Harmony Releases Proposal to Compensate for the Theft of Horizon Across the Chain Bridge

Jul 27,2022
KingData News: Harmony has released a cross-chain bridge Horizon theft compensation proposal that would hard fork the Harmony blockchain, increase the supply of ONE, and compensate users affected by the Horizon theft in the form of ONE tokens over a three-year period, with token distribution occurring on a monthly basis. An additional 86M ONE (included in the proposed options) will be minted as part of the reimbursement plan, and distributed to certain affected DeFi protocols over the same 3-year period, to mitigate losses resulting from uncollectible loans. The Horizon bridge incident resulted in the loss of $99,340,030.00 worth of digital assets across approximately 65,000 wallets and 14 different asset types.
This metrics provides a follow-up of hack incidents such as the exploitation of the Harmony-eco cross-chain bridge Horizon and the NFT lending protocol XCarnival.
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