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US crypto firm Harmony hit by $100 million heist

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US crypto firm Harmony said Friday that thieves stole around $100 million value of digital coins from one in all its key products, the most recent in a string of cyber heists on a sector long targeted by hackers.

Harmony develops blockchains for so-called decentralized finance — peer-to-peer sites that provide loans and other services without the normal gatekeepers equivalent to 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 utilized by digital tokens equivalent to bitcoin and ether.

Thefts have long plagued firms within the crypto sector, with blockchain bridges increasingly targeted. Over $1 billion has been stolen from bridges up to now in 2022, in response to London-based blockchain analytics firm Elliptic. 

Harmony said the heist hit its Horizon “bridge,” a tool for transferring crypto between different blockchains — the underlying software utilized by digital tokens equivalent to bitcoin.Getty Images

Harmony tweeted that it was “working with national authorities and forensic specialists to discover the offender and retrieve the stolen funds,” without giving further details.

It didn’t immediately reply to requests for comment sent via email and social media.

Elliptic, which tracks publicly visible blockchain data, said the hackers stole quite a few different cryptocurrencies from Harmony, including ether, Tether, and USD Coin, which they later swapped for ether using so-called decentralized exchanges.

In March, hackers stole around $615 million value of cryptocurrency from Ronin Bridge, used to transfer crypto out and in of the sport Axie Infinity. The USA linked North Korean hackers to the theft, one in all the ever. 

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