ONE, a local token of a cross-chain bridge supplier, Concord, is now one of many worst performers among the many high 200 cash immediately, because the group confirmed they misplaced round ETH 85,867 (USD 99m) in a theft.
At 03:40 UTC, ONE, ranked 123rd by market capitalization on CoinGecko, trades at USD 0.024 and is down over 7% in a day and virtually 4% in per week.
At round 11:13 PM UTC, Concord said it “has recognized a theft occurring this morning on the Horizon bridge amounting to approx. USD 100m.” The group claims that it doesn’t affect their bitcoin (BTC) bridge and “its funds and property saved on decentralized vaults are secure at the moment.”
Based on the announcement, Concord has additionally notified exchanges and stopped the Horizon bridge to stop additional transactions.
“We now have begun working with nationwide authorities and forensic specialists to determine the wrongdoer and retrieve the stolen funds,” they added.
Concord claims that its bridges can join any proof-of-work and proof-of-stake chains.
Be taught extra:
– Growth in Digital Assets Trade Puts the Spotlight on Blockchain Bridge Security Risks
– A Multichain World Is Key to the Success of Web 3.0 and the Metaverse
(Up to date at 04:23 UTC to make clear that the hacker stole ETH.)