BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home CRYPTO

Harmony’s Native Token, ONE, Drops Nearly 10% after Bridge Hack

BlockNews.com Team by BlockNews.com Team
June 24, 2022
in CRYPTO, TECHNOLOGY, Uncategorized
Reading Time: 2 mins read
1
SHARES
18
VIEWS
Share on XShare in TelegramShare on Reddit

News recently broke that Harmony’s Horizon bridge was hacked, with the culprits making away with nearly $100 million in stolen funds. Today, ONE, the native token of Harmony, is also feeling the pain of that with the token dropping nearly 9% after the incident. 

The company released an overview of the entire situation, which can be read on their website here.

As of 9 PM, ONE,  which is ranked 125th by market capitalization on CoinGecko, trades at USD .024 and is down almost 9% in a day and over 3% in a week.

After the incident, Harmony stated that it “has identified a theft occurring this morning on the Horizon Bridge amounting to approx. USD $100 million.” The harmony team also went on to state that the incident did not affect their bitcoin (BTC) bridge and noted, “its funds and assets stored on decentralized vaults are safe at this time.”

3/ Note this does not impact the trustless BTC bridge; its funds and assets stored on decentralized vaults are safe at this time.

— Harmony 💙 (@harmonyprotocol) June 23, 2022

The announcement also included that the company halted the bridge, preventing transactions from occurring and that they had immediately notified other exchanges.

“We have begun working with national authorities and forensic specialists to identify the culprit and retrieve the stolen funds,” they added.

“Assets were stolen on both Ethereum and Binance Smart Chain,” according to blockchain analytics firm Elliptic.

The company added,  “A variety of assets were taken, including ETH, BNB, USDT, USDC and DAI. The stolen tokens have now been swapped for ETH using decentralized exchanges – a commonly-seen technique with these hacks.”

The analysts also noted that Harmony sent the thief a message, embedded within an ETH transaction, asking them to negotiate. 

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: HackharmonyONE
TweetShareShare
BlockNews.com Team

BlockNews.com Team

The go-to news source for Cryptocurrency, Blockchain, Technology, & Finance

DON'T MISS THESE! HOT OFF THE PRESS

Coinbase CEO Brian Armstrong’s Expensive AI Gamble
BUSINESS

Coinbase CEO Brian Armstrong’s Expensive AI Gamble

September 4, 2025
Ripple’s RLUSD Marches Into Africa With Bold Partnerships
CRYPTO

Ripple’s RLUSD Marches Into Africa With Bold Partnerships

September 4, 2025
NEAR Foundation Unveils Grand 2026 Flagship in San Francisco: Where AI Meets Decentralization
CRYPTO

NEAR Foundation Unveils Grand 2026 Flagship in San Francisco: Where AI Meets Decentralization

September 4, 2025
BITCOIN

Here’s Why Bitcoin’s Struggles Could Trigger the Next Big Market Shift

September 4, 2025
Here is Why Dogecoin’s Treasury Move Could Be the Catalyst for $1
CRYPTO

Here is Why Dogecoin’s Treasury Move Could Be the Catalyst for $1

September 4, 2025
Cardano Sentiment Nosedives to 5-Month Low, But Whales See Opportunity
CARDANO

Cardano Sentiment Nosedives to 5-Month Low, But Whales See Opportunity

September 4, 2025
Load More

Related News

Coinbase CEO Brian Armstrong’s Expensive AI Gamble

Coinbase CEO Brian Armstrong’s Expensive AI Gamble

September 4, 2025
Ripple’s RLUSD Marches Into Africa With Bold Partnerships

Ripple’s RLUSD Marches Into Africa With Bold Partnerships

September 4, 2025
NEAR Foundation Unveils Grand 2026 Flagship in San Francisco: Where AI Meets Decentralization

NEAR Foundation Unveils Grand 2026 Flagship in San Francisco: Where AI Meets Decentralization

September 4, 2025

Here’s Why Bitcoin’s Struggles Could Trigger the Next Big Market Shift

September 4, 2025
Here is Why Dogecoin’s Treasury Move Could Be the Catalyst for $1

Here is Why Dogecoin’s Treasury Move Could Be the Catalyst for $1

September 4, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews