Harmony Protocol’s Horizen Bridge Losses $100m To Hackers

Twitter icon  •  Published 1 week ago  •  Hassan Maishera

Harmony Protocol announced via Twitter on Friday that it had identified a theft occurring on the Horizon bridge amounting to approximately $100 million.

Harmony Protocol announced via Twitter on Friday that it had identified a theft occurring on the Horizon bridge amounting to approximately $100 million. However, the protocol said it has started working with national authorities and forensic specialists to identify the culprit and retrieve the stolen funds. The team said it has also notified exchanges and stopped the Horizon bridge to prevent further transactions.

Harmony is a fast and secure blockchain for decentralized applications. Harmony's main focus is on achieving scalability by dividing not only the network nodes but also the blockchain states into shards, "scaling linearly in all three aspects of machines, transactions and storage".

ONE, Harmony Protocol’s native token, is down by more than 8% in the past 24 hours and currently trades at $0.02426.

 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.

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