Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Harmony
Harmony Community Reacts to Proposal to Mint 5 Billion Tokens as Compensation
On Wednesday, the Harmony blockchain team shared a tentative reimbursement strategy for those affected by June’s Horizon Bridge attack . As the hack robbed the platform of about $99M, the devs intend to mint almost 5 billion native ONE tokens to compensate victims. Details of Minting Proposal Harmony published a blog post sharing the proposal with its community members. The Harmony team has worked tirelessly to brainstorm and develop paths towards reimbursing those who were impacted by the recent hack…
3 years ago
Harmony’s Horizon Bridge Suffers a 100M Exploit in Latest DeFi Attack
The Horizon bridge to the Harmony blockchain has lost $100 million worth of altcoins to a malicious actor. Harmony announced today morning via Twitter. [embed]https://twitter.com/harmonyprotocol/status/1540110924400324608?s=20&t=cgXzjYq4foPyAMVF1G8Tcg[/embed] Following a brief investigation, the Harmony team pinpointed the attacker’s Ethereum address. After compromising the Horizon bridge, the attacker transferred different tokens to their wallet, with the first transfer coming a little over 20 hours ago. According to Harmony, this exploit did not impact the trustless Bitcoin (BTC) bridge. The protocol claims this bridge’s funds…
3 years ago