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Harmony, A Crypto Business In The US, Was The Victim Of A $100 Million Robbery

Harmony, A Crypto Business In The US, Was The Victim Of A $100 Million Robbery
The latest in a run of cyber heists on a sector long targeted by hackers, U.S. crypto company Harmony announced on Friday that criminals took about $100 million worth of digital currency from one of its core products.
Harmony creates blockchains for decentralised finance - peer-to-peer platforms that offer loans and other services without the usual gatekeepers like banks - as well as non-fungible tokens.
The heist targeted Horizon's "bridge," a platform for transferring crypto across several blockchains - the underlying software used by digital assets such as bitcoin and ether.
Theft has long plagued the crypto industry, with blockchain bridges becoming increasingly targeted.
According to the London-based blockchain analytics startup Elliptic, almost $1 billion has been stolen from bridges so far in 2022.
Harmony tweeted that it was "working with national authorities and forensic specialists to find the criminal and recover the stolen monies," but provided no other information.
Harmony said in a statement that it has 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.
According to Elliptic, a company that records publicly viewable blockchain data, the hackers stole a variety of cryptocurrencies from Harmony, including ether, Tether, and USD Coin, which they later exchanged for ether using so-called decentralised exchanges.
In March, hackers stole over $615 million in cryptocurrency from Ronin Bridge, which was used to transfer money into and out of the game Axie Infinity. The heist was linked to North Korean hackers, according to the US.

Christopher J. Mitchell

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