Binance and Huobi freeze Harmony Hacker’s cash

Two cryptocurrency exchanges Binance and Huobi announced that they have frozen some of the cash transferred right here by the Harmony bridge hacker.

As Coinlive reported, the Harmony’s Horizon bridge was hacked on June 24, 2022 and withdrew lots of ERC-twenty tokens. The hacker then converted the obtained cash into in excess of 85,000 ETH, well worth virtually $a hundred million at the time. With this kind of severity, it entered the best ten most damaging crypto attacks of 2022.

After a prolonged time period of “still” on January sixteen, 2023, blockchain researcher ZachXBT announced that Harmony Bridge Attacker invested final weekend moving about 41,000 ETH obtained (well worth about 63.five million bucks) to the Railgun trading mixer, then loaded at three trades.

According to Binance CEO Changpeng Zhao, the attacker attempted to launder cash by Binance and Huobi, but was spotted and stopped by the exchange. In complete, the two exchanges have frozen 124 BTC of hackers, equal to around $two.six million at the time of creating.

Zhao says this is an illustration of how crypto companies in the CeFi room can enable conquer DeFi shortcomings this kind of as safety attacks.

This is not the very first time Binance has joined the asset freeze of poor actors making an attempt to transfer cash to the exchange to scatter. In the previous, the exchange has repeatedly blocked the criminal conduct of Curve Finance and Ronin Network attackers.

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