Crypto Firm Harmony Hit by $100 Million Heist

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LONDON—Crypto steadfast Harmony said connected Friday that thieves stole astir $100 cardinal worthy of integer coins from 1 of its cardinal products, the latest successful a drawstring of cyber heists connected a assemblage agelong targeted by hackers.

Harmony develops blockchains for alleged decentralized finance—peer-to-peer sites that connection loans and different services without the accepted gatekeepers specified arsenic banks—and non-fungible tokens.

The California-based institution said the heist deed its Horizon “bridge,” a instrumentality for transferring crypto betwixt antithetic blockchains—the underlying bundle utilized by integer tokens specified arsenic bitcoin and ether.

Thefts person agelong plagued companies successful the crypto sector, with blockchain bridges progressively targeted. Over $1 cardinal has been stolen from bridges truthful acold successful 2022, according to London-based blockchain analytics steadfast Elliptic.

Harmony said successful a tweet that it was “working with nationalist authorities and forensic specialists to place the culprit and retrieve the stolen funds,” without giving further details.

In a statement, Harmony added that it had a planetary squad “working astir the timepiece to code the issue.”

“We are presently narrowing down the imaginable onslaught vectors portion moving to place the culprit,” a spokesperson said, adding that Harmony had already tried to interaction the hacker via a transaction to their crypto wallet address.

Elliptic, which tracks publically disposable blockchain data, said the hackers stole a fig of antithetic cryptocurrencies from Harmony, including ether, Tether, and USD Coin, which they aboriginal swapped for ether utilizing alleged decentralized exchanges.

In March, hackers stole astir $615 cardinal worthy of cryptocurrency from Ronin Bridge, utilized to transportation crypto successful and retired of the crippled Axie Infinity. The United States linked North Korean hackers to the theft.

By Elizabeth Howcroft, Tom Wilson, and Hannah Lang