Hackers Steal $100M in Crypto From Harmony Blockchain Bridge
The Facts
A hacker has stolen $100M from Harmony's Horizon Bridge - which allows users to transfer crypto assets from one blockchain to another - in what Harmony has described as a "malicious attack."
Harmony didn't provide specific details surrounding the asset heist but stated that it believed a single individual account was responsible.
The Spin
Narrative A
Despite continued worries surrounding the security of crypto bridges, the market has managed to shrug off the impact of another attack. This is a positive sign for the crypto market more broadly, despite its struggles with security and demand in recent months.
Narrative B
This heist has once again revealed the severity of security issues in the crypto market. The absence of a strong regulatory framework has allowed hackers to turn crypto markets into their playground and their attacks could drag the market to a complete halt.