Crypto bridge company Ethereum has been hacked, with lost of tens of thousands of valuable Ethereum tokens stolen in a major heist.
Cyber criminals whose identity is unknown yet managed to siphon out 85,867 Ether token from the Harmony bridge, worth approximately $105 million.
The bridge company has shared the details of incident with security and exchange partners immediately as well as the FBI. They are trying to get close to the culprit and retrieve the funds before they get laundered in crypto tumbling services.
“Harmony believes that focusing on decentralized bridges is an essential step forward for Web3,” he said. “This incident is a humbling and unfortunate reminder of how our work is paramount to the future of this space, and how much of our work remains ahead of us.”
Most crypto bridges get audited by blockchain security firms, and Harmony was no different. It passed the audit in October 2020, which was conducted by Peck Shield. Still, the security firm said it could not guarantee, with 100% certainty, that the protocol was airtight.
Crypto Bridge Company
Crypto bridge company offers the service of coin transfers between different chains, a service that’s grown extremely popular in the last couple of years. At the same time, these companies have become major targets for cybercriminals everywhere, as they’re often coded with insufficient security, resulting in theft.