#bridge exploit

Integrating Decentralized Cross-Chain Communication Makes Bridges ‘Substantially Safer’ — Flare Networks CEO

Although they grabbed less media attention than the collapse of centralized organizations, the so-called bridge exploit incidents in 2022 again proved that the decentralized finance (defi) ecosystem still lacks sufficiently secure solutions, Hugo Philion, the co-founder and CEO of Flare Networks, has argued. Philion insists that the lack of such secure solutions has constrained the growth and use…

The 10 largest crypto hacks and exploits in 2022 saw $2.1B stolen

Just the top 10 major cryptocurrency exploits garnered over $2 billion for malicious actors in a year that was marred with bankruptcies and collapses.

Blockchain Hacks: Can They be Prevented with Smart Contract Audits?

Blockchain hacks will continue as long as cybercriminals keep easily discovering security vulnerabilities. Here is what happens if security is lacking, says Sumit Siddharth, founder of the SecOps Group. With the exponential growth of cryptocurrencies, NFTs and other blockchain implementations, there has never been a better time for a cybercriminal to convert a vulnerability into easy and big…

Harmony Protocol Drama: Hackers Move Funds via Tornado Cash

Harmony Protocol still hasn’t found harmony after a recent hack. In fact, the drama on Harmony Protocol’s Horizon Bridge continues. After the company offered a $1m reward to the hackers, the criminals have not accepted, and are pushing on with their theft. They even took steps to transfer the funds through Tornado Cash. The goal is to scramble transactions to cover their tracks. Harmony…

Harmony (ONE) Offers $1M Bounty for Return of Stolen Funds

Harmony Protocol, which lost $100 million in a bridge attack earlier this week, has announced a $1 million bounty for returning stolen funds and an explanation for the breach. In addition, the company, which specializes in cross-chain bridges, announced that it would lobby for no criminal charges after the money is returned. It supplied an email ([email protected]) and an Ethereum wallet…