Another major hack of Binance’s Horizon crypto bridge in recent months

On Thursday, Harmony, known as Horizon, announced that it had been hacked for $100 million, becoming the latest major hack of a blockchain bridge in recent months.

The security vulnerabilities of the blockchain bridges allow users to transfer their digital assets across different platforms, and have become more and more exploited by hackers. The hack of Harmony's Horizon follows other high-profile attacks on other high-profile attacks on a number of bridges, including Axie Infinity's Ronin bridge, which saw $600 million of digital currency disappear in March, and Wormhole, which lost $320 million in a criminal heist in February.

The Horizon's Harmony bridge allows for transfers of token between the Binance Smart Chain and the Ethereum network. Harmony also operates another bridge forBitcoin, which it says was not impacted by the hack.

Harmony revealed that a single account was behind the attack. Harmony said it was working with the FBI and other forensic experts at cybersecurity companies to investigate the hack, although it didn't say how they breached their system.

The multisig wallet allows transactions to be conducted with just two signatures, a vulnerability that could have been exploited by hackers.

It is common for hackers to compromise private keys to access a criptocurrency wallet.

Harmony tweeted that they were working with national authorities and forensic specialists to identify the culprit and retrieve the stolen funds.

Harmony said that the funds and assets stored on decentralized vaults are safe at this time and it had stopped deposits and withdrawals on the bridge and informed exchanges of the hack.

The pivotal role that bridges play in moving large pools of assets is a target for hackers, according to research lead at Elliptic, a research lead at the research firm, Jess Symington, told CNBC that bridges are a tempting target for hackers. In order to allow individuals to use bridges to move their funds, assets are locked on one block chain and unlocked or minted on another. These services hold large volumes of cripto-assets. The hack sent Harmony's ONE token sliding by more than 10%.