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Binance and Huobi Froze $1.4 Million in Crypto Tied to the Harmony Bridge Heist

Cointime Official

Crypto exchanges Binance and Huobi froze $1.4 million in crypto on Tuesday tied to the Harmony Bridge heist --- which is allegedlylinked to North Korean hackers, according to a blog post from crypto tracing firm Elliptic.

 “Today, money laundering was detected and stolen funds linked to North Korea were frozen, in real time. As an industry we have the power and responsibility to prevent digital assets becoming a haven for money launderers and sanctions evaders, and ensure that they are a force for good.” Simone Maini, CEO of Elliptic, said in the post.

In June 2022, the Horizon cross-chain bridge suffered an attack, causing a loss of $99.6 million in crypto assets. Subsequently, the stolen funds were laundered via the now-sanctioned Tornado Cash.

According to Elliptic investigators, the cybercrime organization responsible for the hack was identified as the North Korea-controlled Lazarus Group, and the FBI later confirmed this attribution.

Screenshot from Elliptic Investigator, showing some of the transaction paths from Horizon Bridge, to exchanges.

Binance and Huobi did not immediately respond to a request for comment.

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