Breaking: Binance's CZ thwarts Harmony One hackers from laundering, recovers 124 BTC


Share:
  • Binance CEO Changpeng Zhao announced the recovery of $2.6 million worth of Bitcoin from Harmony One hacker’s latest move. 
  • CZ revealed that security teams of exchanges like Huobi share information on exploits and hacks, collaborating on crypto recovery.
  • Harmony Protocol’s Horizon bridge was exploited for $100 million worth of cryptocurrencies in June 2022. 

Binance CEO Changpeng Zhao informed his 8.1 million followers on Twitter that the exchange collaborated with Huobi to thwart Harmony One hacker’s recent move. The security teams of the exchanges worked together to help recover $2.6 million worth of BTC from the $100 million hack in June 2022. 

Binance CEO Changpeng Zhao reveals how exchange stopped hackers from getting away with 124 Bitcoin

Binance CEO Changpeng Zhao informed his Twitter followers that 124 Bitcoin, worth approximately $2.6 million has been recovered from the $100 million Harmony Protocol hack. The cryptocurrency exchange platform’s security team worked collaboratively with Huobi to identify the stolen funds when they were moved to the platform. 

The two exchanges debunked the Harmony One exploiter’s move and pulled 124 BTC out of the hacker’s grip. The hack took place in June 2022 and since then the Harmony Protocol team has been working with the Federal Bureau of Investigation (FBI) and authorities to recover stolen funds

The protocol had offered a 1% bounty for $100 million worth of stolen cryptocurrency’s recovery. Harmony's team increased the bounty to $10 million soon after, however it never received a legitimate response to date. 

50,000 Horizon Bridge wallet owners were affected by the hack

The Horizon Bridge, the target of the $100 million hack has been halted since the incident, and approximately 50,000 wallet owners have been affected. Bridged wallet owners in the DeFi ecosystem lost their funds in the exploit and have been presented with several recovery plans since then; including minting and distribution of new tokens


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content

Editors’ Picks

PEPE price inches closer to 2024 peak with top crypto exchanges teasing PEPE memes on X

PEPE price inches closer to 2024 peak with top crypto exchanges teasing PEPE memes on X

PEPE’s social dominance and relevance have been increasing since February 20. This week, top cryptocurrency exchanges have shared PEPE and related memes in tweets on their official X handle. 

More PEPE News

SEI, Omni Foundation propose standard to unify Ethereum NFTs

SEI, Omni Foundation propose standard to unify Ethereum NFTs

SEI and Omni Foundation could help NFTs across the Ethereum ecosystem transition to scaling solutions and rollups. The two have proposed a new token standard, xERC-721, with a “code minimized” upgrade to the current standard. 

More Cryptocurrencies News

Bitcoin Weekly Forecast: BTC likely to correct to $50,000 soon

Bitcoin Weekly Forecast: BTC likely to correct to $50,000 soon

Bitcoin price has formed a potential top signal that forecasts a sell-off. The weekly chart also points to a bearish divergence, which adds credence to the bearish outlook. Investors can expect BTC to consolidate between the $52,062 to $45,160 levels.

More Bitcoin News

XRP price plunges as Kraken cites SEC v. Ripple lawsuit in its legal battle against the regulator

XRP price plunges as Kraken cites SEC v. Ripple lawsuit in its legal battle against the regulator

XRP price inches closer to support at $0.52 after the recent developments related to the SEC’s lawsuit against Ripple. Kraken cited a key part of the SEC’s lawsuit against Ripple that could impact the outcome of its own legal battle against the regulator. 

More Ripple News

Bitcoin: BTC likely to correct to $50,000 soon

Bitcoin: BTC likely to correct to $50,000 soon

Bitcoin price has formed a potential top signal that forecasts a sell-off. The weekly chart also points to a bearish divergence, which adds credence to the bearish outlook. Investors can expect BTC to consolidate between the $52,062 to $45,160 levels.

Read full analysis

BTC

ETH

XRP