LONDON, June 24 (Reuters) - U.S. crypto firm Harmony said on Friday that thieves stole around $100 million worth of digital coins from one of its key

U.S. crypto firm Harmony hit by $100 million heist

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2022-06-24 11:30:21

LONDON, June 24 (Reuters) - 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. read more

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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