Harmony, a US-based cryptocurrency company, says hackers have stolen about 100 million worth of digital coins from its flagship product, and hackers have long targeted the sector.
According report, Harmony has developed a blockchain for decentralized finance, providing loans and other services that go beyond the traditional way of banking and non-financing tokens.
The California-based company said the theft affected Horizon Bridge, which transmits cryptocurrencies between different blockchains, and that the software is used for “digital tokens” such as bitcoins and ethers.
Corrupt companies have long been the target of thefts, according to the UK’s blockchain analyst Elpitak, with more than 1 billion stolen from bridges so far in 2022.
Harmony said in a tweet that it was working with relevant authorities and forensic experts to identify the culprits and recover the stolen funds.
The hackers stole various cryptocurrencies from the Harmony Company, including ether, tether, and USD coins, Elpitak said.
In March, hackers stole cryptocurrencies worth about Rs 61 crore from Ronan Bridge, which was transferred to the ExxonMobil game for the exchange of cryptocurrencies, which the United States has blamed on North Korean hackers.