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Hackers stole ~$100M from the Horizon bridge, Concord blockchain stated late Thursday by way of tweet, underscoring the vulnerability of the bridges that enable platforms to just accept various cryptocurrency tokens and transfer them between blockchain networks..
Particularly, the Horizon bridge permits the trade of crypto property between Ethereum, Binance Sensible Chain and Concord blockchains.
The blockchain staff notified exchanges and stopped the Horizon bridge to stop additional transactions, it stated. It is also working with “nationwide authorities and forensic specialists to determine the offender and retrieve the stolen funds.” The FBI and a number of cyber safety companies are investigating the breach, it added.
Concord additionally stated the theft would not have an effect on its trustless Bitcoin (BTC-USD) bridge. “Its funds and property saved on decentralized vaults are protected at the moment.”
The Concord token (ONE-USD) has dropped 9.9% previously 24 hours to $0.02. Its blockchain has ~$1.09B whole worth locked, in keeping with its web site.
The hack is the the third main cyberattack on a crypto bridge this 12 months. Hackers stole more than $300M from the Wormhole bridge in February and $620M was stolen from the Ronin Bridge in March, Bloomberg reported.
Final 12 months, Poly Community recovered remaining property from a $611M crypto hack
