The frequency of hacks and scams is increasing in the cryptocurrency industry. The Horizon Bridge attack on the Harmony Layer-1 chain stole over $100 million in assets in 2022. The protocol’s Horizon Bridge was attacked and a number of altcoins were stolen.
Harmony hackers apparently ignored the platform’s $1 million reward. The attackers then started moving the stolen assets. However, the hackers’ intention to move the funds under the covers remained a pipe dream. Binance and Huobi Security In a joint effort by his team, over 124 bitcoins were recovered from his Harmony hacker.
According to details shared in CZ’s tweet, Binance helped Huobi freeze the hacker’s account, recovering a total of 124 bitcoins.
While this is a notable move by the exchange, the majority of the hacked funds are still in the hands of the hackers. Crypto sleuth ZachXBT has reported that the North Korean Lazarus group is moving his $63.5 million worth of Ethereum via his Railgun from his Harmony bridge hack. He highlighted the fact that over 350 addresses were involved in shuffling the funds, which he later deposited on three different exchanges.
2022 has already been a difficult year in terms of cryptocurrency prizes and other surprises. The Harmony hack is considered one of the biggest cryptocurrency hacks of 2022.