Harmony’s open, decentralized network is enabled through the use of the native protocol token - Harmony ONE. The token incentivizes and rewards a variety of participants including developers, validators/stakers, investors, and community members who develop, secure and govern the network. In order to use the network, users pay a small transaction fee denominated in the native Harmony token.
Harmony goes to the FBI after losing $100 million to an Exploit; its ONE Token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. collapses
- Harmony was hacked for over $100 million in cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation.
- He turned to the FBI and other agencies to search for the attacker.
- Harmony’s ONE token plummets after attack
A popular online productHarmony was attacked yesterday by a exploit for more than USD $100 million in cryptocurrencies in what is one of the biggest crypto hacks in recent weeks. This was reported in Twitter the developers own account:
“The Harmony team identified a theft that occurred this morning at Horizon Bridge in the amount of approximately $100 million USD. We have begun working with national authorities and forensic specialists to identify the culprit and recover the stolen funds.” said the developers of the network a network refers to all nodes in the operation of a blockchain at any given moment in time. in a tweet .
1/ The Harmony team has identified a theft occurring this morning on the Horizon bridge amounting to approx. $100MM. We have begun working with national authorities and forensic specialists to identify the culprit and retrieve the stolen funds.
— Harmony ???? (@harmonyprotocol) June 23, 2022
In the thread he goes on to show the attacker’s address a place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. and say: “Note that this does not affect the BTC bridge without trust; your funds and assets stored in decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. vaults are safe at this time.”
“We also notified the exchanges and stopped Horizon Bridge to prevent further transactions. The team is getting down to business as investigations continue. We will keep everyone updated as we investigate this further and gather more information.”
In a later tweet, he reveals that the FBI is one of his supporters:
“Harmony is working around the clock as we continue our investigation along with the FBI and several cybersecurity firms.
Updates will be shared as information is gathered.”
Harmony is working around the clock as we continue our investigation alongside the FBI and multiple cyber security the term securities refers to a fungible and tradable financial instrument that carries a type of monetary value. firms.
Updates will be shared as information is gathered.
— Harmony ???? (@harmonyprotocol) June 24, 2022
He added: “Decentralized trustless an environment where there is no centralized authority. bridges a blockchain bridge allows the seamless transfer of data or tokens between two different blockchain projects. are more important now than ever. It’s all hands on deck as we continue to build these technologies. Trustless bridges, like our existing #Bitcoin bridge and the upcoming #Ethereum trustless bridge, are critical to decentralization the handover of control from a central authority to several different custodians. and security.”
As the tweet, the Federal Bureau of Investigation (FBI), the U.S. national intelligence agency, and cybersecurity firms have joined the search for the attacker.
However, the attack has already had its consequences: the token ONE native ofHarmony took a sharp fall on the news of the exploit, bringing its decline in the last 24 hours to more than 9%, according to the data of CryptoMarkets. It is worth noting that the biggest drop occurred last night and early this morning, and today at 8:30 am New York time has a very slight recovery from a few hours ago. Meanwhile, both Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. como Ethereum a decentralized open-source blockchain with smart contracts functionality. and other cryptocurrencies are on rises that in some cases exceed 10% from yesterday’s price.
The drama of the exploits
As it says Coindesk the attack adds to the litany of exploits this year targeting bridges, which allow users to move tokens between blockchains, bringing the total lost to more than $1 billion in 2022 alone. Among the biggest, in February, the bridge Wormhole suffered a $326 million hack, and in April, Ronin de Axie Infinity was exploited for a whopping USD $625 million.
The bridge Horizon has enabled users to exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. assets, such as tokens, stable coins, and NFT, between blockchainsEthereum, Binance Smart Chain (BSC) yHarmony.
The mechanism of operation of the bridge allowed attackers to exploit the network. It worked as follows, according to the developer’s documents: a set of smart contracts was implemented on the blockchains.Ethereum, BSC yHarmony. A group of validators verifies when users block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. liquidity how easily a cryptocurrency can be bought and sold without impacting the overall market price. on any of these networks.
When a token block action is detected on the blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. of the Ethereum, the group of validators validates it and transmits the finalized information to the block chain ofHarmony, where an equivalent amount of a bridged token is minted. Conversely, when the burning destroying a certain number of digital coins to reduce their issue. This method is used to fight inflation and increase the value of cryptocurrency. All token burning transactions are recorded in the blockchain as a transaction. Therefore, anyone can verify that the coins were destroyed. of a bridged token is detected on the blockchain ofHarmonyThe group of validators validates it and transmits the finalized information to the block chain of Ethereum, where the same amount of the original token is unlocked.
The attacker did not move any funds to exchanges or privacy exchange services such as Tornado Cash cash is the most liquid form of money: physical coins and banknotes in the most narrow sense of the term. until now, as shown by data from Blockchain.
Sources: Coindesk , Twitter, archivo
Version of DiarioBitcoin
Imagen de Unsplash