“$100 million worth of crypto has been stolen in another major hack”
June 24, 2022
“Hackers have stolen $100 million in cryptocurrency from Horizon, a so-called blockchain bridge, in the latest major heist in the world of decentralized finance…
It follows a series of notable attacks on other blockchain bridges. The Ronin Network, which supports crypto game Axie Infinity, lost more than $600 million in a security breach that took place in March. Wormhole, another popular bridge, lost over $320 million in a separate hack a month earlier.
The heist adds to a stream of negative news in crypto lately. Crypto lenders Celsius and Babel Finance put a freeze on withdrawals after a sharp drop in the value of their assets resulted in a liquidity crunch. Meanwhile, beleaguered crypto hedge fund Three Arrows Capital could be set to default on a $660 million loan from brokerage firm Voyager Digital…”
Cryptocurrency is the future. It’s not going anywhere. Now, knowing how much cryptocurrency is being stolen, I have to wonder when so many cryptocurrencies lose large amounts of value how much of that was stolen? That stolen money had to have caused a reaction. How big of a reaction I don’t know but it had to cause one.