Harmony - ONE

DEFI Hacks Explained: Harmony Hack Bridge Exploited For $100M 💰

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Hey guys!

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Today we’re staring a new serie which is called “Defi Hacks Explained”.

The DEFI and crypto world needs better education and better security.
I am on a mission to make DEFI better and more secure and that’s why I decided to create the new “Defi Hacks Explained” Youtube serie.

Every time we will pick an interesting DEFI Hack case study and we will learn everything about it. We will analyze it form edge to edge including how the attack happend, how money was stolen, and how we could prevent it.

The first episode in the serie is about the Harmony Bridge Hack.
$100M were stolen because of signatures theft and not on-chain smart contract exploits.
We can see here traditional spear-phishing hacking in the “new” DEFI space.

And the results are catastrophic.

In the video we will learn:
* What are bridges
* How bridges work
* How Harmony bridge works
* How Harmony bridge was hacked
* How the money was stolen
* How the attackers “laundered” the money through Tornado Cash
* Assumption of the attackers identity
* How this whole story affect DEFI in the macro level

It’s gonna be super interesting and I’m excited – let’s go!

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Useful Links:

Reky.news Article About Harmony Hack:
https://rekt.news/harmony-rekt/

Harmony ETH Bridge Exploited Contract:
https://etherscan.io/address/0xf9fb1c508ff49f78b60d3a96dea99fa5d7f3a8a6

Harmony Bridge MultiSig Wallet:
https://etherscan.io/address/0x715CdDa5e9Ad30A0cEd14940F9997EE611496De6

Harmony Signature 1 That Was Compromised:
https://etherscan.io/address/0xf845A7ee8477AD1FB4446651E548901a2635A915

Harmony Signature 2 That Was Compromised:
https://etherscan.io/address/0x812d8622C6F3c45959439e7ede3C580dA06f8f25

Mudit Gupata Twitter Summary:
https://twitter.com/Mudit__Gupta/status/1540225237912010753

Patreon:
https://www.patreon.com/JohnnyTime

Discord:
https://johnnytime.finance/discord

BUSD Tip Jar:
0xFf3d275BB50bB677Ea1f117730B68Cf42651a60f

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Timestamps:
00:00 Intro
01:10 Harmony Hack – $100M Stolen
01:30 Presentation Subject
02:20 Crypto Bridge Explained
03:20 How Blockchain Bridges Work
05:20 Harmony Blockchain Bridge
06:40 Harmony Bridge Architecture
08:00 Stolen Signatures
08:30 Harmony Bridge Smart Contract
09:20 Harmony Bridge MultiSig Wallet
11:30 Stealing Funds From The Bridge
12:20 Diving Into The Transactions
14:15 Harmony Team Offers A Bounty
15:55 Mixing Funds Using Tornado Cash
16:50 Open Questions
18:30 Bullish Or Bearish For DEFI?
20:00 Outro And Summary
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⚠️⚠️⚠️ #DEFI #Hacks #Harmony #Bridge #Hack #Explained #Exploited #blockchain #ethereum #NFT #Coin #tokens ⚠️⚠️⚠️
The content in any of Johnny’s Youtube videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other & may be outdated or inaccurate; it is your responsibility to verify all information.
I do not provide personal investment advice and I am not a qualified licensed investment advisor.
I am just sharing my knowledge and my findings.
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Social Media:

Twitter:
https://twitter.com/RealJohnnyTime

Instagram:
https://www.instagram.com/johnnytime.eth
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Music By Yoad Ronen:
https://soundcloud.com/yoad-ronen
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Until next time,
Johnny Time

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2 Comments

  1. really great video! No one explained this much level detail. waiting to hear from you next part

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