Harmony Horizon bridge exploit. Consequences to Aave V3 Harmony

Ask the community and make a proposal for a voting. But I can guess it won’t go through.

Of course it won’t go through. It is like you asking me to give you $1,000 because someone else has scammed you. Why would I do it?

The only reason to do it is to be able do disable Harmony from AAVE UI and get rid of all annoying people who are asking constantly when are they going to be able to withdraw, sell and move on with their lives. So 2 days of AAVE fees could buy AAVE this peace of mind.

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There may be hope from the Harmony team which decided to use their Treasury to recover the lost fund?

There is a vote happening now. Guess who is excluded from voting and disenfranchised?

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Finally some movement on this front. I believe that ONE depositors should have priority on getting their funds back, as we can’t withdraw solely because of AAVE’s oracle believing depegged assets still had their full value.

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Hi all,

Just wanted to issue and update that although R1 has had massive support from the community thus far, the Harmony team has decided to shift the method in which recovery happens in order to avoid minting and to utilize the treasury over time. This is good news, but it will cause a minor delay as those details are shared with the community in the coming days.

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I look forward to seeing the details with proposed dates of execution.

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So what are the next steps? Thank you

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Is there an update to this?

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On the Harmony Community Forum someone said that they are or they will be conducting separate talks or negotiations to resolve AAVE problem. I don’t know if it is true or what exactly does it mean.

Bumping, still waiting on more info to come out on this as well.

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This is from harmony Discord:

Pioneer Emory — Today at 18:12

I’ve spoken with AAVE and provided updates on the AAVE forums throughout the process, however there are no commitments at this time which directly pertain the AAVE users. Ideally, AAVE can perform liquidations and use the assets to recover a % of the underlying value to provide to their users. AAVE is challenging to work on due to it’s decentralized leadership tbh.

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Hi, any news? Thank you

From Harmony forum:

R1 can talk to AAVE all day but we would only be a middleman. Recovery One has served as the conduit for the community’s collective voice and now we are assisting in the burn phase of the recovery. We will continue to keep communication open but I believe in the end Harmony and AAVE have to get together on this one.

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Update from Harmony Discord server:

There’s not that many people left in the original team, they all quit, I think there’s like 3 people left and the CEO is hiding
I confirmed that info.
Tse hiding
Li denial
Globey acting strong
Total team count -3

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What is the status? Thank you

Any news/updates as far as a timeline? Ty

I am not sure to see how this is related to aave frozen funds?

User, on behalf of User and User’s assigns, heirs, and estates (the “Releasing Party”) hereby generally releases and forever discharges foundations, associations, operating companies and development companies for the Harmony ecosystem and their affiliates, and their respective past and present, core developers, validators, officers, directors, employees, shareholders, partners, agents, principals, managers, attorneys, contractors, contributors, insurers or indemnitors, parent corporations, direct and indirect subsidiaries, affiliates, predecessors, successors, assigns, heirs, and estates (the “Released Parties”), and each of them, separately and collectively, from any and all existing claims, liens, demands, causes of action, obligations, damages, and liabilities of any nature whatsoever, whether or not now known, suspected, or claimed, that the Releasing Party ever had, now has, or may claim to have had, including without limitation those arising from or relating to the Harmony Horizon Bridge Hack (the “Released Claims”). For the purposes of this Agreement, “Horizon Bridge Hack” means the conducting of unauthorized transactions on June 23, 2022, by a malicious third party on the Harmony Horizon bridge that resulted in the transfer of cryptocurrency asset tokens from the Harmony Horizon Bridge to the malicious actor’s wallet.

User acknowledges and agrees that we are not affiliated with the Released Parties and are the sole party providing the services on our platform as described herein. Nothing herein shall be construed as creating any obligation to User from the Released Parties, nor any agreement between the Released Parties and User, provided however, that User acknowledges and agrees that the Released Parties are intended third-party beneficiaries of this section and the release for the Horizon Bridge Hack contained herein. User further acknowledges and agrees that User shall have no rights in respect of any funds provided to us by the Released Parties to facilitate the development of our platform or delivery of its services or to otherwise enable any contribution made by us to the Harmony ecosystem.