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Crypto thieves steal $100M in digital coins from US firm Harmony - fox29.com - Usa - Los Angeles - state California
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Crypto thieves steal $100M in digital coins from US firm Harmony
LOS ANGELES - Harmony, a crypto firm in the United States, said on Friday it was robbed of approximately $100 million in digital currency, the latest in a string of cyber heists, Reuters reported. Harmony’s main mode of business involves developing blockchains, a decentralized digital ledger which keeps track of digital transactions of currency like crypto. The company tweeted it was "working with national authorities and forensic specialists to identify the culprit and retrieve the stolen funds," without giving further details.Harmony did not immediately respond to requests for comment sent via email and social media.These blockchains serve to offer loans and other financial services bypassing traditional centralized banking institutions most consumers have to go through to get credit and other forms of lending. Harmony, based in California, said crypto thieves hacked into their software where they were able to steal a variety of valuable cryptocurrencies including bitcoin and ether. Companies within the crypto sector have become increasingly targeted due to the volatility of the industry and lack of regulation. Over $1 billion has been stolen from blockchains so far in 2022, according to London-based blockchain analytics firm Elliptic. Another crypto heist which made U.S. headlines involved over $625 million in Ethereum and USD Coin which was stolen from the Ronin blockchain network.Ronin is a blockchain project used by the popular, non-fungible token (NFT)-based online game Axie Infinity, developed by publisher Sky Mavis.
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