Approximately US$100 million ($138 million) was stolen from US crypto firm Harmony’s “Horizon bridge”, which allows users to transfer crypto between different blockchains.
Harmony CEO Stephen Tse said the firm discovered evidence that private keys were compromised, leading to the breach of the Horizon bridge. The firm is currently working with national authorities and forensic specialists to identify the culprit and retrieve the stolen funds, on top of offering a US$1 million bounty for the return of the funds as well as sharing of exploit information.
A tweet from Harmony
Metaverse platform The Sandbox’s token SAND saw a price surge following the announcement of the Metaverse Standards Forum last week. The forum, which brings together leading standards organisations and companies for industry-wide cooperation on interoperability standards needed to build the open metaverse includes Meta, Alibaba, Sony, NVIDIA and Ikea as its founding members.
As at June 27, SAND is trading 41% higher over the past 7-day period at US$1.21 apiece. Its all-time high was recorded on Nov 25, 2021 at US$8.40 apiece.
See also: Digital Assets Association launches to connect tradfi and tokenised real world assets
Chart: SAND 7-day price performance, CoinGecko
Crypto firm Luno has expanded the offerings on its Singapore platform to include USDC Savings Wallet and two new cryptocurrencies — Chainlink and Uniswap. The USDC Savings Wallet offers a “competitive rate” of up to 7.6% yield with no lock-in period, the company said in a statement.
As it offers a familiar interest product to traditional banking, the savings wallet is a good avenue for new customers to grow their investments passively, said Luno global expansion manager and country manager for Singapore, Sherry Goh. The firm was granted in-principle approval from the Monetary Authority of Singapore under the Payment Services Act to provide Digital Payment Token services in April.
