Onchain Researchers Discover $63M in Ethereum From Harmony Bridge Attack Moved – On Jan. 15, 2023, onchain researchers discovered that funds stolen during the Harmony bridge attack had been moved. The suspected thieves, who are allegedly associated with the North Korean hacking syndicate Lazarus Group, moved 41,000 ethereum, worth $63.2 million at current exchange rates.
The Harmony development team announced on June 23 of last year that $100 million in cryptocurrency had been stolen from the Horizon bridge through the use of a multi-signature wallet. Later, Onchain researcher Zachxbt found that the stolen funds began to move 206 days after the initial attack, with 41,000 ETH (equivalent to $63.2 million at current exchange rates) being transferred.
“North Korea’s Lazarus Group had a very busy weekend moving $63.5 million (approximately 41,000 ETH) from the Harmony bridge hack through Railgun before consolidating funds and depositing them on three different exchanges,” Zachxbt tweeted. The funds were reportedly deposited into OKEx, Huobi, and Binance. Zachxbt added that Huobi and Binance had frozen some of the ethereum sent to the exchanges.
Binance CEO Changpeng Zhao, commonly known as “CZ,” confirmed that the funds were indeed frozen. “We detected Harmony One hacker fund movement,” CZ wrote. “They previously tried to launder through Binance and we froze their accounts. This time they used Huobi. We assisted the Huobi team in freezing their accounts. Together, 124 BTC have been recovered,” the Binance executive added.
The blockchain intelligence firm Elliptic initially linked the funds to North Korea’s Lazarus Group. Lazarus Group is accused of carrying out numerous attacks against cryptocurrency projects in recent years. It is believed that the North Korean hacker collective was behind the $620 million Ronin bridge attack as well.
READ MORE
Poll Shows Hungarians Interested in Investment Potential of Cryptocurrencies
El Salvador Approves Digital Assets Issuance Law
Bankruptcy Court Terminates FTX Naming-Rights Agreement for Miami Heat Arena
