Breaking: Harmony’s Horizon Bridge hacked for $100M
CointelegraphJun 24, 2022
A hacker has stolen $100M from Harmony's Horizon Bridge - which allows users to transfer crypto assets from one blockchain to another - in what Harmony has described as a "malicious attack."
Harmony didn't provide specific details surrounding the asset heist but stated that it believed a single individual account was responsible.
Despite continued worries surrounding the security of crypto bridges, the market has managed to shrug off the impact of another attack. This is a positive sign for the crypto market more broadly, despite its struggles with security and demand in recent months.
This heist has once again revealed the severity of security issues in the crypto market. The absence of a strong regulatory framework has allowed hackers to turn crypto markets into their playground and their attacks could drag the market to a complete halt.
There is a 50% chance that Bitcoin will make up at least 31.6% of the total crypto market in 2025, according to the Metaculus prediction community.