Crypto hackers broke into the Harmony server stealing around $100 million

Crypto hackers
TL;DR Breakdown

• Open Blockchain network loses a good amount of its funds to hackers
• FBI would be investigating the crypto hackers that steal the money

Recently a crypto hackers group who possibly maintain their operations in the US attacked the crypto firm Harmony. The blockchain company reportedly lost around $100 million after a massive hack in the last hours.

As interest in cryptocurrencies and Blockchain networks increases among US citizens or other territories worldwide, so are hacks against these companies. In 2022, over 100 crypto thefts have been reported, where hackers stole over $1 billion. Most of these attacks are addressed by investigative agencies such as the FBI.

Harmony suffers from an attack by crypto hackers

Crypto hackers

The open Blockchain network Harmony announced through its Twitter profile that crypto hackers attacked it last Thursday. Harmony indicated that the hackers used an alternate connection to move the cryptos.

However, the company works hard with the federal investigative agency in the United States, the FBI, to find crypto hackers. This way, Harmony officially joins the list of crypto companies that have lost their funds due to organized groups from the country of origin or other territories.

Blockchain network analytics provider Elliptic suggests crypto losses exceed $1 billion. Elliptic also clarifies that the crypto hackers’ theft increases in sync with the rise in global technology adoption.

Crypto bridges are a priority for hackers

Crypto hackers

Crypto hackers use crypto bridges to finish their crimes successfully. These alternate connections intercept crypto operations and divert them to the criminals’ wallets. But bridges allow funds to be stolen and laundered through multiple transactions to the same source.

To date, it is unclear who or what organization perpetrates the theft, but they may come from the country or North Korea. In April, the federal agency said that the North Korean territory could be to blame for losing more than $615 million in crypto funds. The FBI said that North Korea could be involved in video games crypto-scams.

Meanwhile, the crypto industry continues to recover, with Bitcoin, the token with the largest market capitalization, raising its price by over 2 percent, according to CoinMarketCap. This bullish streak is expected to build, so the tech-focused outlook looks positive in the second half of 2022. Harmony may show progress in catching crypto-hackers in the coming days.

Carisbel Guaramato

Carisbel Guaramato

An avid content creator for over 4 years, Carisbel spends her time on blogs and technology news. She honed her skills as a social communicator and now finds crypto and blockchain news events worldwide for transmission through Cryptopolitan's neutral and incisive way.

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