US crypto firm Harmony hit by US$100 million heist

25/6/2022 5:57:00 AM

US crypto firm Harmony hit by US$100 million heist

Cryptocurrencies, Cryptocurrency Trading

US crypto firm Harmony hit by US$100 million heist

LONDON, June 25 — US crypto firm Harmony said yesterday that thieves stole around US$100 million (RM440.2 million) worth of digital coins from one of its key products, the latest...

Saturday, 25 Jun 2022 9:32 AM MYTLONDON, June 25 — US crypto firm Harmony said yesterday that thieves stole around US$100 million (RM440.2 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.

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for the latest news you need to know.A (June 23): Miniso Group Holding Ltd, the US-listed Chinese household consumer goods retailer, has won the Hong Kong stock exchange’s approval for its planned dual primary listing in the city, people with knowledge of the matter said.for the latest news you need to know.A (June 23): U.

Saturday, 25 Jun 2022 9:32 AM MYT LONDON, June 25 — US crypto firm Harmony said yesterday that thieves stole around US$100 million (RM440.2 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. It is considering raising as much as US$100 million in the share sale, one of the people said. 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. US inflation has surged to a 40-year high, picking up speed in recent months as the fallout from Russia’s invasion of Ukraine has sent fuel and food prices soaring, with gas at more than US$5 a gallon for the first time — putting strain on American families. 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. It is joining a slew of companies that are rushing to launch first-time share sales before the June 30 deadline. Thefts have long plagued companies in the crypto sector, with blockchain bridges increasingly targeted.1 billion a year earlier.

Over US$1 billion has been stolen from bridges so far in 2022, according to London-based blockchain analytics firm Elliptic. A representative for Miniso didn’t immediately respond to a request for comment.3 trillion) American Rescue Plan approved last year for the blistering price increases. 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”. Its shares have fallen about 23% in New York this year, giving it a market value of about US$2. “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.” “Isn’t it just a massive storm of everything, is what contributes to inflation and causes it all over the world?” Meeks asked. 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. As escalating tensions between Beijing and Washington threaten Chinese companies’ access to US capital markets, some of them are seeking a foothold back home as a hedge against delisting risks.4% in April.

In March, hackers stole around US$615 million worth of cryptocurrency from Ronin Bridge, used to transfer crypto in and out of the game Axie Infinity. The United States linked North Korean hackers to the theft. Bank of America Corp, Haitong Securities Co and UBS Group AG are joint sponsors of the listing, according to a preliminary prospectus. And, some of those factors are “out of our control — for example, the price of oil and most of the price of food. — Reuters Advertisement .