Binance and Huobi Freeze Assets Stolen in Horizon Bridge Hack

On February 14, cryptocurrency exchanges Binance and Huobi froze wallets holding about $1.4 million stolen in the Horizon cross-chain bridge attack on the Harmony protocol. Elliptic said.

Researchers said that until recently the funds had remained dormant. However, the hackers, through complex chains of transactions, began moving the assets to centralized exchanges.

Elliptic notified trading platforms about the illicit deposits, and they, in turn, suspended the hackers’ accounts and froze the funds in real time.

As a reminder, the loss from the June 2022 Horizon cross-chain bridge hack amounted to $100 million. Subsequently, the funds were laundered through Tornado Cash mixer, which was under US sanctions.

Elliptic linked the attack to the North Korean hacker group Lazarus Group. These findings were later confirmed by the FBI.