Onchain Researchers Discover $63M in Ethereum From Harmony Bridge Attack Move, Hackers Attempt Money Laundering on Major Exchanges

The Harmony development team revealed on June 23 that $100 million in cryptocurrency funds had been stolen from Horizon Bridge. Speaking of which, reports suggest that the attacker used a multi-signature wallet to gain control. If we talk about onchain researcher Zachxbt that he knows that whatever money is related to bridge loss he transfers of 41000 ethereum (which at current exchange rate is worth $63.2 million) after 206 days has begun to happen. Certainly, according to the researcher, along with the successful transfer of the lost funds, the crypto exchange Binance has also tried its hard work and has played a major role in seizing the accounts involved in money laundering. Zachxbt tweeted what a very busy week it was as North Korea’s Lazarus Group moved $63.5 million (about 41,000 ETH) from the Harmony Bridge hack via Railgun. The funds were reportedly deposited on OKEx, Huobi and Binance. Zachxbt says that some Ethereum sent to exchanges by Huobi and Binance has also been frozen, and that Binance CEO Changpeng Zhao, more commonly known as “CZ,” said confirmed that the funds were indeed deposited and wrote that “we detected the Harmony One hacker fund movement”. was sealed. This time they used Huobi. According to them they helped the Huobi team freeze the accounts and 124 bitcoins were recovered in one go. The blockchain intelligence farm Elliptic initially The funds were linked to North Korea’s Lazarus Group, which has been accused of carrying out a series of attacks against cryptocurrency projects in recent years and is believed to be behind the $620 million Ronin Bridge attack. If we put all the facts together, we get that according to the researchers, the Harmony Bridge was stolen and transferred during the attack and definitely scammers belonging to a hacking syndicate group are directly responsible for this whole process.


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