{"id":16541,"date":"2023-01-17T02:12:04","date_gmt":"2023-01-17T02:12:04","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/onchain-researchers-discover-63m-in-ethereum-from-harmony-bridge-attack-moved-hackers-attempt-to-launder-funds-on-major-exchanges-bitcoin-news\/"},"modified":"2023-01-17T02:12:04","modified_gmt":"2023-01-17T02:12:04","slug":"onchain-researchers-discover-63m-in-ethereum-from-harmony-bridge-attack-moved-hackers-attempt-to-launder-funds-on-major-exchanges-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/onchain-researchers-discover-63m-in-ethereum-from-harmony-bridge-attack-moved-hackers-attempt-to-launder-funds-on-major-exchanges-bitcoin-news\/","title":{"rendered":"Onchain Researchers Discover $63M in Ethereum From Harmony Bridge Attack Moved, Hackers Attempt to Launder Funds on Major Exchanges \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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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.<\/strong><\/p>\n

Onchain Researchers Track Stolen Ethereum From Harmony Bridge Attack and Help Major Exchanges Freeze Funds<\/h2>\n

On June 23 of last year, the Harmony development team disclosed<\/a> that $100 million in cryptocurrency funds had been stolen from the Horizon bridge. Reports indicated that the attacker had utilized a multi-signature wallet to gain control of the bridge. Onchain researcher Zachxbt discovered<\/a> that funds related to the Horizon bridge loss began to move 206 days later, with 41,000 ETH<\/a> (worth $63.2 million at current exchange rates) being transferred.<\/p>\n

\u201cNorth Korea\u2019s Lazarus Group had a very busy weekend moving $63.5 million (approximately 41,000 ETH<\/a>) from the Harmony bridge hack through Railgun before consolidating funds and depositing them on three different exchanges,\u201d 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.<\/p>\n

Binance CEO Changpeng Zhao, commonly known as \u201cCZ,\u201d confirmed that the funds were indeed frozen. \u201cWe detected Harmony One hacker fund movement,\u201d CZ wrote<\/a>. \u201cThey 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<\/a> have been recovered,\u201d the Binance executive added.<\/p>\n

The blockchain intelligence firm Elliptic initially linked<\/a> the funds to North Korea\u2019s Lazarus Group. Lazarus Group is accused of carrying out numerous attacks against cryptocurrency projects in recent years. It is believed<\/a> that the North Korean hacker collective was behind the $620 million Ronin bridge attack as well.<\/p>\n

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\nTags in this story
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124 BTC<\/a>, Attack<\/a>, Binance<\/a>, Blockchain<\/a>, Changpeng Zhao<\/a>, Collective<\/a>, Crypto<\/a>, CZ<\/a>, Elliptic<\/a>, Ethereum<\/a>, Firm<\/a>, frozen<\/a>, Funds<\/a>, Hack<\/a>, Hackers<\/a>, Harmony Bridge<\/a>, Huobi<\/a>, Intelligence<\/a>, Laundering<\/a>, Lazarus Group<\/a>, Major Exchanges<\/a>, Masterminds<\/a>, Movement<\/a>, north korea<\/a>, Okex<\/a>, Onchain<\/a>, recovery<\/a>, Researchers<\/a>, Ronin Bridge<\/a>, Security<\/a>, Zachxbt<\/a><\/div>\n<\/div>\n

What are your thoughts on the hackers moving 41,000 ethereum onchain to three major exchanges? Share your perspective in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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