In a recent tweet, on-chain crypto spy ZachXBT said hackers transferred $64 million over the weekend.
Security teams from crypto exchanges Binance and Huobi have joined forces to freeze and recover 121 bitcoins
BTC
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$22,974
To the hackers behind the Harmony Bridge exploit.
Binance CEO Changpeng Zhao announced in a tweet that the hackers were trying to launder their money through the Huobi exchange. Binance learned of this and they contacted Huobi to help freeze and recover the digital assets deposited by the hackers.
According to Zhao, a total of 121 BTC were received from the exchanges, estimated to be worth $2.5 million at the time of writing.
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Before Binance and Huobi found and froze the funds, on-chain crypto spy, JackXBT revealed that the hackers behind the exploit were moving 41,000 ether
Eth
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$1,640
, which is worth about $64 million, over the weekend.
After transferring the money, the hackers consolidated the digital assets and deposited them in three different crypto exchanges, Crypto Sleuth reported but the spy in the chain did not specify the name of the exchange used by the exploiter.
Related: Backlash as Harmony offers to mint 4.97B tokens to reimburse victims
On June 24, 2022, the Harmony team discovered the exploit and reported a $100 million settlement. The hack highlights concerns previously raised by community members around some of the Mutisig wallets securing Horizon Bridge.
On June 30, the Lazarus Group — a notorious North Korean hacking organization — was identified as the suspect behind the $100 million Harmony hack. Blockchain analytics firm Elliptic noted that the methodology of the hack was similar to other attacks by the Lazarus group.
The Horizon Bridge hack is one of the biggest exploits and hacks of 2022. Analysts believe Lazarus Group breached Harmony’s security system by targeting employees’ login credentials. The hackers then deployed a laundering operation to transfer the stolen assets.
