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US crypto company Harmony has been fined $ 100 million for fraud

The US-based crypto-crypto company Harmony on Friday said the thieves stole $ 100 million worth of digital coins from one of its most valuable assets, the latest in a series of cybercrime attacks on hackers. Peer-to-peer sites offer loans and other services besides traditional gatekeepers such as banks – and mold-free tokens.

The California company said the heist had hit its “Horizon” bridge, a tool to transfer crypto between different blockchains – a basic software used for digital tokens such as bitcoin and ether.

Theft has long plagued companies in the crypto industry, and blockchain bridges are increasingly targeted. More than $ 1 billion has been stolen from bridges so far by 2022, according to London blockchain analyst Elliptic.

Harmony wrote on Twitter that “they have been working with national authorities and intelligence experts to locate the victim and recover stolen funds”, without giving further details.

In a statement, Harmony added that it has an international team “working around the clock to resolve this issue”.

“We are currently minimizing the potential vectors when we are working to identify the victim,” said a Harmony spokesman, adding that Harmony had tried to contact the perpetrator by transaction at their crypto wallet address.

Elliptic, which tracks public blockchain data publicly, said the criminals stole large amounts of secret money from Harmony, including ether, Tether, and USD Coin, which they later exchanged for ether using so-called real estate transactions.

In March, hackers stole an estimated $ 615 million worth of cryptocurrency from Ronin Bridge, used to transfer crypto in and out of the game Axie Infinity. The United States has linked North Korean hijackers to theft.


I am Sanjit Gupta. I have completed my BMS then MMS both in marketing. I even did a diploma in computer software and Digital Marketing.

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