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ONE Drops as Harmony’s Bridge Hacked for Almost USD 100M in Ethereum

ONE, a native token of a cross-chain bridge provider, Harmony, is currently one of the worst performing coins out of the top 200 today, as the team has confirmed that they have lost approx. 85,867 ETH ($99 million) in a theft.

At 03:40 UTC, ONE, ranked 123rd by market capitalization on CoinGecko, was trading at $0.024 and was down more than 7% in a day and almost 4% in a week.

At around 11:13 PM UTC, Harmony said it “identified a theft that occurred this morning on the Horizon Bridge amounting to approximately $100 million.” The team claims that it does not affect their bitcoin (BTC) bridge and that “their funds and assets stored on decentralized vaults are safe at this time.”

According to the announcement, Harmony has also notified exchanges and stopped the Horizon Bridge to prevent further transactions.

We have begun working with national authorities and forensic experts to identify the perpetrators and recover the stolen funds,” they added.

Harmony claims that their bridges can connect any proof-of-work and proof-of-stake chain.