HarmonyONE is not Bitcoin and the developers were warned months ago about this hack specifically the way it happened and they did nothing about it. This is another Ethereum Virtual Machine (EVM) bridge hack. You will find most hacks in cryptocurrency involve Ethereum in some way or another. That is because the programming language they made up for smart contracts, Solidity, is highly expressible along the lines of Javacript but also highly open to exploits. Because there are more things that you can do on Solidity, there are more doors to open for hackers. Many top cryptocurrency blockchains right now are copies of the Ethereum blockchain architecture and set up. When a hack happens in one, similar hacks can happen in other similar blockchain and it's all a matter of how well the devs did to secure the network.
https://www.teddit.net/r/CryptoCurrency/comments/vjjwdt/there_was_harmony_once/
The hack is no different to what occurred with [Ethereum] Ronin network. 2 out 4 wallets were compromised to make transactions to unlock tokens on Ethereum side. But it was angrier that the exploit was warned in April, but the Harmony team didn't give a shit.
Bitcoin on the other hand runs on a functional programming language. It is very tight and doesn't leave room for bugs and exploits. This is both their greatest strength and weakness because they won't be able to run smart contracts but you won't find any hacks on the Bitcoin network.
Morale of the story, if you don't want hacks and want secure money, don't use Ethereum copies. Look for cryptocurrency blockchains that run on functional programming languages like Bitcoin or Cardano (which unlike Bitcoin can do smart contracts and still has never been compromised while maintaining a top 10 position for years).
HarmonyONE is not Bitcoin and the developers were warned months ago about this hack specifically the way it happened and they did nothing about it. This is another Ethereum Virtual Machine (EVM) bridge hack. You will find most hacks in cryptocurrency involve Ethereum in some way or another. That is because the programming language they made up for smart contracts, Solidity, is highly expressible along the lines Javacript but also highly open to exploits. Because there are more things that you can do on Solidity, there are more doors to open for hackers. Many top cryptocurrency blockchains right now are copies of the Ethereum blockchain architecture and set up. When a hack happens in one, similar hacks can happen in other similar blockchain and it's all a matter of how well the devs did to secure the network.
https://www.teddit.net/r/CryptoCurrency/comments/vjjwdt/there_was_harmony_once/
The hack is no different to what occurred with [Ethereum] Ronin network. 2 out 4 wallets were compromised to make transactions to unlock tokens on Ethereum side. But it was angrier that the exploit was warned in April, but the Harmony team didn't give a shit.
Bitcoin on the other hand runs on a functional programming language. It is very tight and doesn't leave room for bugs and exploits. This is both their greatest strength and weakness because they won't be able to run smart contracts but you won't find any hacks on the Bitcoin network.
Morale of the story, if you don't want hacks and want secure money, don't use Ethereum copies. Look for cryptocurrency blockchains that run on functional programming languages like Bitcoin or Cardano (which unlike Bitcoin can do smart contracts and still has never been compromised while maintaining a top 10 position for years).
HarmonyONE is not Bitcoin and the developers were warned months ago about this hack specifically the way it happened and they did nothing about it. This is another Ethereum Virtual Machine (EVM) bridge hack. You will find most hacks in cryptocurrency involve Ethereum in some way or another. That is because the programming language they made up for smart contracts, Solidity, is highly expressible along the lines Javacript but also highly open to exploits. Because there are more things that you can do on Solidity, there are more doors to open for hackers. Many top cryptocurrency blockchains right now are copies of the Ethereum blockchain architecture and set up. When a hack happens in one, similar hacks can happen in other similar blockchain and it's all a matter of how well the devs did to secure the network.
https://www.teddit.net/r/CryptoCurrency/comments/vjjwdt/there_was_harmony_once/
The hack is no different to what occurred with [Ethereum] Ronin network. 2 out 4 wallets were compromised to make transactions to unlock tokens on Ethereum side. But it was angrier that the exploit was warned in April, but the Harmony team didn't give a shit.
Bitcoin on the other hand runs on a functional programming language. It is very tight and doesn't leave room for bugs and exploits. This is both their greatest strength and weakness because they won't be able to run smart contracts but you won't find any hacks on the Bitcoin network.
Morale of the story, if you don't want hacks and want secure money, don't use Ethereum copies either. Look for cryptocurrency blockchains that run on functional programming languages like Bitcoin or Cardano (which unlike Bitcoin can do smart contracts and still has never been compromised while maintaining a top 10 position for years).