Cross-Chain
Cross-chains in the crosshairs: Hacks call for better defense mechanisms
2022 has been a lucrative year for hackers preying on the nascent Web3 and decentralized finance (DeFi) spaces, with more than $2 billion worth of cryptocurrency fleeced in several high-profile hacks to date. Cross-chain protocols have been particularly hard hit, with Axie Infinity’s $650 million Ronin Bridge hack accounting for a significant portion of stolen funds this year. The pillaging continued into the second half of 2022 as cross-chain platform Nomad saw $190 million drained from wallets. The Solana ecosystem was the next target, with hackers gaining access to the private keys of some 8000 wallets that resulted in $5 million worth of Solana (SOL) and Solana Program Library (SPL) tokens being pilfered. deBridge Finance managed to sidestep an attempted phishing attack on Monday, Aug....
Harmony launches Bored Ape Yacht Club NFT Passport
On Friday, blockchain platform Harmony — whose mainnet runs on the Ethereum network, claiming to have two-second transaction finality and fees 1,000 times lower than Ethereum — announced the launch of its Bored Ape Yacht Club Passport. The Passport enables users to import proof of their apes into DeFi Kingdoms, a play-to-earn game built on the Harmony blockchain with over 120,000 monthly active users. During its initial stages, Ape holders will be able to validate and display their assets in the game across multiple blockchains when they connect their MetaMask wallet to DeFi Kingdoms. The infancy of cross-chain technology means that funds could be at risk when bridging across chains, as the biggest decentralized finance hack thus far this year showed. However, as stated by its develop...
