Harmony Protocol Suffers Hack

Following a number of recent crises in the cryptospace, Harmony Protocol is the latest project in the news.

Based on reports, there was a theft of $100 million in cryptocurrency on the Harmony Protocol blockchain bridge, Horizon.

There isn’t much information about the hackers, but Harmony has put out an address it believes to be responsible for the theft. In addition, they have also gotten in touch with security and forensic experts with the aim of getting the hacker. As well as, to recover the stolen funds.

More Info

AAG Ventures, the technology company behind AAG, a fast-growing play-to-earn guild, also revealed it suffered from the attack. However, they have been in contact with Lossless, a crypto hack mitigation tool for DeFi. Lossless has been able to freeze 78 million $AAG of the 84 million $AAG tokens that were stolen.

The Harmony Protocol team spoke to crypto exchanges about the issue. Also, putting the Horizon bridge on hold to avoid further damages.

Furthermore, the incident didn’t affect the BTC bridge as its funds are kept in a decentralized vault always.

About Harmony Protocol

Harmony Protocol is a scalable blockchain that launched on the Binance ecosystem. It has major innovations in state sharding, which utilizes decentralized randomness and proof-of-stake. As well as, innovations in peer-to-peer networking which aims at fast block propagation and optimal cross-shard routing.

Additionally, the protocol seeks to provide marketplaces of fungible tokens for businesses like loyalty points and energy credits. Also, to provide non-fungible assets like game collectibles and real estate.

$ONE Price Outlook

As of the time of publication, the Harmony token price was $0.02580475 with a 24-hour trading volume of $96,514,127. ONE price also rose by 8.5% over the last 24 hours. Besides, it has a circulating supply of 12.19 billion ONE coins and a total supply of 13.15 billion.

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