“A TARGETED ATTACK BY A GROUP ON US” — BUT THE FUNDS ARE THE ONES DOWN MONEY

Fifteen funds handed one London company a live window into their coins, and this week someone climbed through it. Haruko sells “portfolio, risk-management and trade-data infrastructure” to crypto firms — a single screen that plugs into a fund’s exchange accounts, custodians and wallets so managers can watch it all at once. That convenience is a key, and it does not sit in the fund’s hands. By Haruko’s own telling, someone pulled a user-access token from one of its machines and read what the memory held. CoinDesk reports the break exposed clients’ read-only exchange access and trading data; people close to it say a small amount of client money was stolen, and that smaller hedge funds with weaker controls were the most exposed. The co-founder told a client “This was a targeted attack by a group on us,” and “It was 15 clients impacted” — the target was the vendor, but the funds are the ones down money. That is the whole lesson. A middle layer between you and your coins is not a feature; it is another door with another lock, and you do not hold the key. TRM Labs counted 207 hacks in the first half of 2026, and roughly 76% of the money stolen came from infrastructure and operational breaks like this one. Not your keys, not your coins — the funds just learned it the expensive way. At the time of this writing, bitcoin was $80,655.