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More Loss For Cryptocurrency Investors As Hackers Cart Away R1.5Billion Worth Of Crypto

In a significant theft, thieves stole $100 million worth of bitcoins from the Horizon blockchain bridge as the sector struggles with crashes and sell-offs. The crash's exact mechanics are unclear, according to CNBC, although the blockchain claims to have identified the theft on June 22, 2022. The business has discovered a possible account that it thinks might be the culprit.

Harmony claimed in a tweet that it had started working with local law enforcement to identify the offender and recover the stolen funds. The business stated in another tweet that it is collaborating with the FBI and various cybersecurity specialists to identify the incident.

The DeFi ecosystem relies heavily on blockchain bridges, which give consumers a mechanism to move their assets between different blockchains. In the instance of Harmony, users can send tokens from the Ethereum network to Binance Smart Chain. disadvantages of decentralised finance The business claimed that the hack had no impact on the bitcoin bridge.

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