After hacking $ 100 million into Harmony’s Horizon bridge, the exchange Prices on the Ethereum hub and bridge were set up, offering some users to triple their USDC availability with a simple exchange. But you should not and you probably will not be able to do it.

The main reason behind the imbalance could be related to the huge volume of outflows, which created excessive pressure on the USDC stocks that lost their $ 1 bond exclusively on the platform.

Probably not recommended. pic.twitter.com/OcdjyUEECp

– Cryptoyieldinfo (@Cryptoyieldinfo) June 24, 2022

Unfortunately, the technical possibility of the exchange was prevented due to the Harmony bridge ban on the Synapse platform. Even if the exchange were possible, the USDC traded on Harmony would probably have no value at all, as these funds probably disappeared during the invasion.

How Harmony lost its funds

The hacker or hacker group used two different wallets to transfer the stolen funds. Ethereum, BNB, USDT, USDC and other cryptocurrencies were sent to the first wallet, ending with “ded00”, which is now worth almost $ 100 million.

The second wallet received significantly fewer coins and the balance currently stands at $ 1.8 million. The currencies and tokens transferred were BUSD and BNB.

After transferring money to the first wallet, the hacker made an exchange between the “ded00” wallet and three other entities. At the time of the press, there is no information on whether the hacker moved his money to currency mixing solutions or not.

Harmony is not the first bridging solution to be attacked this year alone. Previously, the Ronin sidechain of the blockchain game Axie Infinity had been breached, with $ 600 million in user funds being stolen.