Crypto News : $100 Million Stolen via Harmony's Horizon Bridge | cybernews.com

Looking for the most relevant news in the cyber security & tech fields? CLICK HERE 👉 https://ift.tt/nTYUvGh Threat actors stole 100 million dollars worth of cryptocurrency via Harmony's Horizon bridge, a tool for swapping crypto between different blockchains. 2022 has already been a record-breaking year for crypto heists, with 1.26 billion dollars lost in the first three months alone. Harmony, a California-based company, has joined a long list of victims faced with crypto heists. The company announced that close to 100 million dollars worth of digital coins were stolen. Two days after the initial hack, Harmony tweeted that the company is willing to pay a 1 million dollar bounty for the return of Horizon bridge funds. The victim company claims it will advocate for no criminal charges when funds are returned. A bounty offer might signal that Harmony hopes whoever was behind the hack will reconsider and insist the hack was only a security test. A similar case happened last year when threat actors stole 610 million dollars worth of crypto from Poly Networks only to return the money later. Poly Networks thanked the hacker for exposing security flaws, offered a 500 thousand dollar bug bounty, and asked the unknown threat actor to become the Chief security advisor of the company. Harmony claims that private keys were compromised, leading to the breach. The company persists that those keys were encrypted via passphrase and a key management service, and no single machine had access to the keys. However, attackers likely managed to get ahold of several keys or machined to piece the necessary key together. Several types of digital coins were taken by threat actors. However, all were swapped for Ethereum coins. ----------------------------------------------------------------------------------------------------------------------- About us: our dedicated team of security researchers and investigative journalists regularly delves into previously unexplored depths of online security and privacy in order to shed light on stories that often have an unseen influence on the online world at large. A number of our investigations and reports have been featured by industry-related publications and global news leaders like Forbes, PC mag, and Techradar. ----------------------------------------------------------------------------------------------------------------------- Keep up to date with the latest news: ➡️ Visit our site https://cybernews.com/ ➡️ Facebook https://ift.tt/RdZlvLD ➡️ Twitter https://twitter.com/cybernews ​ ➡️ #cybernews #cybernewsbyai #cyberwar
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