On January 15, 2023, Onchain researchers discovered that funds stolen during the Harmony bridge attack had been moved. The suspected thieves, said to be linked to the North Korean hacking syndicate Lazarus Group, moved 41,000 Ethereum worth $63.2 million at current exchange rates. Onchain Researchers Track Stolen Ethereum from Harmony Bridge Attack and Help Major Exchanges Freeze Funds On June 23 last year, the Harmony development team disclosed that $100 million in cryptocurrency funds were stolen from Horizon Bridge. The attacker had reportedly used a multi-signature wallet to take control of the bridge...
On January 15, 2023, Onchain researchers discovered that funds stolen during the Harmony bridge attack had been moved. The suspected thieves, said to be linked to the North Korean hacking syndicate Lazarus Group, moved 41,000 Ethereum worth $63.2 million at current exchange rates.
On June 23 last year, the Harmony development team disclosed that $100 million in cryptocurrency funds were stolen from the Horizon Bridge. The attacker had reportedly used a multi-signature wallet to gain control of the bridge. Onchain researcher Zachxbt discovered that funds related to the loss of the Horizon Bridge began flowing 206 days later at 41,000 ETH (valued at $63.2 million at current exchange rates).
“The North Korean Lazarus Group had a very busy weekend, moving $63.5 million (approximately $41,000). ETH ) from the Harmony Bridge hack by Railgun before the funds were consolidated and deposited on three different exchanges," Zachxbt tweeted. The funds were reportedly deposited on OKEx, Huobi and Binance. Zachxbt added that Huobi and Binance froze some of the Ether sent to the exchanges.
Binance CEO Changpeng Zhao, commonly known as “CZ,” confirmed that the funds were indeed frozen. “We discovered the Harmony One hacker fund movement,” CZ wrote. "They tried to launder through Binance before and we froze their accounts. This time they used Huobi. We assisted the Huobi team in freezing their accounts. 124 in total Bitcoin have been restored,” the Binance executive added.
Blockchain intelligence firm Elliptic initially linked the funds to the North Korean Lazarus Group. The Lazarus Group is accused of carrying out numerous attacks on cryptocurrency projects in recent years. It is believed that the North Korean hacker collective was also behind the $620 million attack on the Ronin Bridge.
What do you think about the hackers moving 41,000 Ethereum onchain to three major exchanges? Share your perspective in the comments section below.
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