Cryptocurrency

Horizon Bridge, Built On Harmony, Witnesses Hack

Horizon Bridge, Built On Harmony, Witnesses Hack #Horizon #Bridge #Built #Harmony #Witnesses #Hack Welcome to JibGlobe, here is the new resources we have for you today:

Horizon Bridge was recently notified of a malicious attack on the network with multiple transactions where eleven transactions managed to extract tokens worth $100 million. The Harmony Protocol team was notified about the attack on June 23, 2022, saying that the bridge was compromised at around 5:30 AM PST.

The team reacted quickly by informing the FBI, exchange partners, and cyber security partners about the hack. Harmony Protocol has sought their assistance in identifying the culprit and retrieving the stolen assets.

All the concerned parties are investigating the matter regarding the hack attack on Horizon Bridge. More details will be shared after the investigation concludes.

Harmony Protocol has underlined the importance of focusing on decentralized bridges as everyone takes a step towards making Web3 a vast reality. A lot of work is yet to be done to ensure that the future is safe from such attacks.

Harmony facilitates 2-second transaction finality with 100 times lower fees by running its mainnet on Ethereum. It is an open and fast blockchain that offers transfers across five chains, including Binance and Ethereum.

The platform accepts collectibles, assets, governance, and identity. The average cost of every transaction goes as low as $0.0001. The network has a total of $1.09 billion of value locked. It looks to lead the revolution of Web3 by promoting interoperability so that the users are never locked on a single platform for the rest of their lives.

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