Onchain Researchers Discover $63M in Ethereum From Harmony Bridge Attack Moved, Hackers Attempt to Launder Funds on Major Exchanges

On Jan. 15, 2023, onchain researchers discovered that funds stolen during the Harmony span onslaught had been moved. The suspected thieves, who are allegedly associated with the North Korean hacking syndicate Lazarus Group, moved 41,000 ethereum, worthy $63.2 cardinal astatine existent speech rates.

Onchain Researchers Track Stolen Ethereum From Harmony Bridge Attack and Help Major Exchanges Freeze Funds

On June 23 of past year, the Harmony improvement squad disclosed that $100 cardinal successful cryptocurrency funds had been stolen from the Horizon bridge. Reports indicated that the attacker had utilized a multi-signature wallet to summation power of the bridge. Onchain researcher Zachxbt discovered that funds related to the Horizon span nonaccomplishment began to determination 206 days later, with 41,000 ETH (worth $63.2 cardinal astatine existent speech rates) being transferred.

“North Korea’s Lazarus Group had a precise engaged play moving $63.5 cardinal (approximately 41,000 ETH) from the Harmony span hack done Railgun earlier consolidating funds and depositing them connected 3 antithetic exchanges,” Zachxbt tweeted. The funds were reportedly deposited into OKEx, Huobi, and Binance. Zachxbt added that Huobi and Binance had frozen immoderate of the ethereum sent to the exchanges.

Binance CEO Changpeng Zhao, commonly known arsenic “CZ,” confirmed that the funds were so frozen. “We detected Harmony One hacker money movement,” CZ wrote. “They antecedently tried to launder done Binance and we froze their accounts. This clip they utilized Huobi. We assisted the Huobi squad successful freezing their accounts. Together, 124 BTC person been recovered,” the Binance enforcement added.

The blockchain quality steadfast Elliptic initially linked the funds to North Korea’s Lazarus Group. Lazarus Group is accused of carrying retired galore attacks against cryptocurrency projects successful caller years. It is believed that the North Korean hacker corporate was down the $620 cardinal Ronin span onslaught arsenic well.

What are your thoughts connected the hackers moving 41,000 ethereum onchain to 3 large exchanges? Share your position successful the comments conception below.

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