Crypto Firm Harmony Loses $100M in Cyber Heists

U.S. crypto firm Harmony said 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.

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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.

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.