HomeExchange NewsHarmony Offers Reward in Exchange for Stolen Crypto Funds

Harmony Offers Reward in Exchange for Stolen Crypto Funds

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Not long ago, Live Bitcoin News published an article about Harmony, a crypto platform stationed in Northern California that lost more than $100 million in digital currency units to hackers. The company was the latest digital asset firm to fall victim to cyberthieves.

Harmony Is Trying Hard to Regain Its Status

Now, it looks like Harmony is going through desperate and extreme measures as a means of getting its money back. The company is willing to offer the hackers a $1 million bug bounty if they return all the funds that were stolen and help Harmony fix the glitches and open doors that allowed the thieves to make off with the money in the first place.

In a series of tweets, Harmony issued the following statement in the hopes of reaching the hackers that stole the money. The company said:

We commit to a $1M bounty for the return of Horizon bridge funds and sharing exploit information. Contact us… Harmony will advocate for no criminal charges when funds are returned.

Harmony has stated that it is currently working with law enforcement agents to fully understand what happened, and that the investigation will likely continue if the money is not given back. However, if the hackers are willing to show a little good faith and not only return the funds but help the company out, they will be let off the hook and even garner a little financial compensation for their time and effort.

Clearly, Harmony is taking a page out of the Poly Network’s playbook. About a year ago, the company lost more than $600 million to what turned out to be a white hat hacker, though the crypto firm didn’t know this at the time. The hacker ultimately emerged later to say that they had simply done what they did as a means of exposing glitches in the company’s gameplan and that they had no interest in money.

The Poly Network Situation Wasn’t the Norm

Prior to this, however, Poly issued a statement that it would not only forgive the wrongdoing if the funds were returned, but it was even willing to offer the hacker a job with the network as a means of making sure such incidents never occurred again. It’s unclear if the hacker ever took the company up on its offer, though at press time, the Poly Network has seen every digital cent returned to its reserve account.

However, one needs to understand that this is an unusual situation where someone appeared to take drastic (and unusual) measures to help an enterprise out. With Harmony, one must assume that until the money is properly returned, the hackers in question sought to steal funds that weren’t theirs during a time when the crypto space appears to be crashing and suffering like it never has before.

Nick Marinoff
Nick Marinoffhttps://www.livebitcoinnews.com/
Nick Marinoff is currently a lead news writer and editor for Money & Tech, a San Francisco-based broadcasting station that reports on all things digital currency-related. He has also written for a number of other online and print publications including Black Impact Magazine, EKT Interactive, Seal Beach USA and Benzinga.com, to name a few. He has recently published his first e-book "Take a 'Loan' Off Your Shoulders: 14 Simple Tricks for Graduating Debt Free" now available on Amazon. He is excited about the potential digital currency offers, particularly its ability to finance unbanked populations and bring nations together financially.

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