An official release published by the project's developers earlier this Friday claimed that Harmony's Horizon cross-chain bridge had suffered a $100 million hack. To look into the incident, the Harmony team has gotten in touch with national law enforcement and blockchain forensic specialists.
According to statistics from CoinGabbar, Harmony (ONE), the blockchain's native currency, has fallen roughly 9% as a result of the announcement.
For a long time, the cryptocurrency market has been abuzz with the discussion of token bridge vulnerabilities. In a Reddit post from January, Ethereum's Vitalik Buterin expressed his opinion that they have "basic security restrictions." Because of its complex complexity, token bridges are frequently the target of attacks.
According to CoinGabbar, a $650 million breach on the Ronin sidechain, which runs the token-based online game Axie Infinity, occurred in late March and is thought to be one of the greatest hacks in the history of decentralized finance. Later it was discovered that North Korean hackers were responsible for the hack.
