US company says $100 mn stolen from bridge

US company says $100 mn stolen from bridge

A US company said on Friday that thieves stole around $100 million worth of digital coins from one of its key products, the latest in a series of cyber heists on a sector that has been targeted by hackers.

Harmony developsblockchains for so-called decentralised finance peer-to- peer sites that offer loans and other services without traditional gatekeepers, such as banks and non-fungible token.

The heist hit its Horizon bridge as a tool to transfer virtual currency between different platforms - the underlying software used by digital tokens such as bitcoin and ether.

Thefts have plagued companies in the sector of criptocurrencies with the use ofBlockchain bridges. More than $1 billion has been stolen from bridges in the past 2022, according to London-based analytics firm Elliptic.

Harmony tweeted that it was working with national authorities and forensic specialists to find the culprit and retrieve the stolen funds, without giving any further details.

The hackers stole a number of different cryptocurrencies from Harmony, including ether, Tether and USD Coin, which they swapped for ether using so-called decentralised exchanges.

In March, hackers stole around $615 million worth of criptocurrency from Ronin Bridge, which was used to transfer cryptocurrencies in and out of the game Axie Infinity. The United States has linked North Korean hackers to the theft, one of the most serious crimes committed by the United States.