Crypto exchanges Binance and Huobi have again frozen accounts linked to the Harmony Bridge hack that took place last year.
On June 24, 2022, the agenda was very hot with the Harmony Bridge hack. Hackers attracted attention by seizing nearly $100 million in assets. North Korea-based Lazarus has become an anonymous hacking group that has come to the fore in the Harmony hack. Exchanges, trying to interfere with the assets stolen by this anonymous group, made a new move. Binance and Huobi have frozen $1.4 million in crypto wallets associated with Lazarus.
Binance and Huobi Make Moves Towards Harmony Hack
Binance and Huobi have frozen crypto wallets that they think are linked to the $100 million Harmony hack.
These wallets, frozen by crypto exchanges, were associated with the North Korean hacking group Lazarus. As a result of research by a firm called Elliptic, Lazarus’ activities were reported to the stock markets. Exchanges that received the intelligence made a move towards this hack group and froze $ 1.4 million wallets.
Sharing his views on the subject, Elliptic said;
“The stolen funds were dormant until recently, when our investigators began to see them being transferred from complex chains of transactions to exchanges. By promptly notifying these platforms of these illegal deposits, they were able to suspend these accounts and freeze funds.”
Previously, Lazarus tried to use the privacy protocol Tornado Cash to transfer and use stolen funds. However, the USA tried to prevent this with its interventions on the side of Tornado Cash.
Elliptic CEO Simone Maini argued that this freeze event is important in removing the notoriety on cryptocurrencies due to money laundering.
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