(Cointelegraph) Harmony’s ONE tokens have dropped 7.4% in the past day to trade at $0.024 following an exploit of $100 million in its Horizon bridge.
Multiple altcoins were lost from the bridge during the hack, including FRAX, wETH, SUSHI, AAG, BUSD, DAI, and USDT.
The team has announced that the bridge has since been halted, maintaining that the BTC Bridge and its assets have not been affected. Harmony says that it is collaborating with the national authorities and forensic specialists to track the perpetrators.
The announcement comes amid a series of exploits involving blockchain bridges. Ethereum co-founder Vitalik Buterin commented on the issue in January that the trend often affects both networks.
The Horizon bridge enables token transfers between Harmony, the Ethereum network, Bitcoin, and Binance Chain.
Harmony is a layer-one blockchain that uses a proof-of-stake consensus algorithm to secure transactions. Its native token ONE is used as a utility asset in the protocol.
