ONE Drops as Concord’s Bridge Hacked for USD 100M

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ONE, a local token of a cross-chain bridge supplier, Concord, turns into one of many worst performers among the many high 200 cash right now, because the group confirms they misplaced round USD 100m 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 nearly 4% in per week.

At round 11:13 PM UTC, Concord mentioned it “has recognized a theft occurring this morning on the Horizon bridge amounting to approx. USD 100m.” The group claims that it doesn’t impression their bitcoin (BTC) bridge and “its funds and property saved on decentralized vaults are secure right now.”

In line with the announcement, Concord has additionally notified exchanges and stopped the Horizon bridge to forestall additional transactions.

“We’ve got begun working with nationwide authorities and forensic specialists to determine the offender and retrieve the stolen funds,” they added.

Concord claims that its bridges can join any proof-of-work and proof-of-stake chains.
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Be taught extra: 
– Development in Digital Property Commerce Places the Highlight on Blockchain Bridge Safety Dangers
– A Multichain World Is Key to the Success of Net 3.0 and the Metaverse

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