Security units at Binance and Huobi have teamed up to freeze and recover 121 Bitcoin from the Harmony bridge hackers.
Changpeng Zhao, CEO of Binance, revealed in a tweet that the hackers attempted to use the Huobi exchange to launder their money. Following Binance’s discovery of this, Huobi was informed, and help was provided to help freeze and reclaim the digital assets that the hackers had placed.
Zhao claims that the exchanges were able to collect 121 BTC in total, which at the time of this writing is believed to be worth $2.5 million. On-chain crypto detective ZachXBT noted that the hackers behind the exploit were moving 41,000 Ether (ETH), worth roughly $64 million, over the weekend before Binance and Huobi discovered and frozen the assets.
The crypto sleuth claims that after shifting the monies, the hackers consolidated and placed the digital assets on three distinct crypto exchanges. The names of the exchanges the exploiters utilized, however, were not provided by the on-chain investigator.
The Harmony team discovered the issue on June 24, 2022, and stated that $100 million in money had been compromised. The attack came to light issues with several of the mutisig wallets guarding the Horizon bridge that had already been raised by community members.
The Lazarus Group, a notorious North Korean hacker group, was named as a suspect in the $100 million Harmony breach on June 30. Elliptic, a company that analyzes blockchains, pointed out that the hack’s methodology was the same as that of earlier Lazarus Group assaults.
One of the most significant exploits and hacks in 2022 is the Horizon bridge attack. Analysts think that the Lazarus Group used the login information of employees to compromise Harmony’s security system. The stolen assets were subsequently moved using systems the hackers had deployed for laundering.
