June 25, 2022 9:48:47 am
U.S. crypto firm Harmony said on Friday that thieves stole around $100 million worth of digital coins from one of its key products, the latest in a string of cyber heists on a sector long targeted by hackers.Harmony develops blockchains for so-called decentralised finance – peer-to-peer sites that offer loans and other services without the traditional gatekeepers such as banks – and non-fungible tokens.
The California-based company said the heist hit its Horizon “bridge”, a tool for transferring crypto between different blockchains – the underlying software used by digital tokens such as bitcoin and ether.
Thefts have long plagued companies in the crypto sector, with blockchain bridges increasingly targeted. Over $1 billion has been stolen from bridges so far in 2022, according to London-based blockchain analytics firm Elliptic.
Harmony tweeted that it was “working with national authorities and forensic specialists to identify the culprit and retrieve the stolen funds”, without giving further details.
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In a statement, Harmony added that it had a global team “working around the clock to address the issue”.
“We are currently narrowing down the potential attack vectors while working to identify the culprit,” a spokesperson said, adding that Harmony had already tried to contact the hacker via a transaction to their crypto wallet address.
Elliptic, which tracks publicly visible blockchain data, said the hackers stole a number of different cryptocurrencies from Harmony, including ether, Tether, and USD Coin, which they later swapped for ether using so-called decentralised exchanges.
In March, hackers stole around $615 million worth of cryptocurrency from Ronin Bridge, used to transfer crypto in and out of the game Axie Infinity. The United States linked North Korean hackers to the theft.
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