Defi cross-chain Horizon Bridge chopped for $ 100 million
Defi cross-chain Horizon Bridge chopped for $ 100 million
- Horizon was hacked for $ 100 million and works with the authorities to identify the attacker
- funds and assets from the Bitcoin bridge remain unaffected because they are stored in decentralized safes, said Harmony's team
HORIZON Bridge, a cross-chain interior operability platform between Ethereum, Binance Smart Chain (BSC) and Horizon-Blockchains, was hacked for $ 100 million.
The team also said that the hack did not affect the trustworthy Bitcoin bridge, since funds and assets are stored in decentralized safes and are considered "currently safe".
It is the youngest in a series of hacks for protocols, bridges and projects, including a $ 20 million theft of the Ethereum scaling solution at the beginning of this month and a $ 320 million hack against Solana Bridge Wormhole in February.
Harmony enables cross-chain transfers digital assets between Ethereum and themselves and BSC via a series of smart contracts that are used across these three chains. Users who have assets such as stablecoins, ERC-20 tokens or Bep-20 tokens can exchange them in a ratio of 1: 1 for corresponding assets for harmony.
In a later tweet-update The Harmony team said that it identified the hacker's address.
"We also notified stock exchanges and stopped the Horizon Bridge to prevent further transactions. The team is on deck with all hands while the investigation continues," said the team.
More updates will be expected in the coming hours. This is a developing story and is updated accordingly.
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The Post-Defi Cross-Chain Horizon Bridge Hacked for $ 100m is not a financial advice.