Harmony’s Horizon Bridge Suffers $100 Million Hack

Harmony’s Horizon Bridge Suffers $100 Million Hack

Harmony’s Horizon cross-chain bridge has suffered a $100 million hack, according to an official announcement made by the project’s team earlier this Friday. The Harmony team has contacted national authorities and blockchain forensic experts to investigate the theft. The address of the culprit, which was linked in the announcement, currently holds roughly $99 worth of Ether. Harmony (ONE), the native token of the blockchain, has plunged nearly 9% on the news, according to CoinMarketCap data. The vulnerabilities of token bridges have been a hot topic within the cryptocurrency industry for quite a while. In January, Ethereum’s Vitalik Buterin opined that they had “fundamental security limits” in a Reddit post. Token bridges often become victims of hacks because of their complicated technology. As reported by U.Today, the Ronin sidechain, which powers …
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