Security News > 2022 > June > More than $100m in cryptocurrency stolen from blockchain biz

Blockchain venture Harmony offers bridge services for transferring crypto coins across different blockchains, but something has gone badly wrong.

The Horizon Ethereum Bridge, one of the firm's ostensibly secure bridges, was compromised on Thursday, resulting in the loss of 85,867 ETH tokens optimistically worth more than $100 million, the organization said via Twitter.

"Our secure bridges offer cross-chain transfers with Ethereum, Binance and three other chains," the cryptocurrency entity explained on its website.

"Blockchain bridges are the latest target and weak point of crypto attackers," observed Chris Wysopal, a security researcher and CTO of Veracode, via Twitter.

The Horizon bridge was audited by Peck Shield, a blockchain security firm, in October 21, 2020.

An individual involved in cryptocurrency trading raised questions in a Twitter thread about the Horizon bridge back in April and noted that the audit didn't assess some aspects of the system.

News URL

https://go.theregister.com/feed/www.theregister.com/2022/06/24/harmony_100m_cryptocurrency_theft/