Home » Currency News » Binance And Huobi Seized $1.4 Million Crypto Funds Linked To North Korean Hackers

Password hacking and fraud are becoming widespread, and digital money service platforms must be one step ahead to resist such things. In a recent statement, Binance and Huobi announced the withholding of $1.4 million in data encryption funds related to the development and design of the Harmony Bridge in June 2022.

Results on February 14th showed that the login password exchanges exceeded and blocked liquidity in accounts linked to notorious North Korean hackers. More details show that the blockchain technology analyzes the enterpriseThe ellipse was investigated.This led to the restoration of the fund.

Recovery and utilization of a small portion of funds from harmonious mining with oval modifiers

On June 22, 2022, a notorious North Korean Lazarus criminal gang entered Horizon Bridge in Harmony and stole about $100m of login password property. According toTo formThe attack began at 07:08 and lasted until 07:26, with hackers shipping out multimillion-dollar tokens based on 11 transactions. After the hacker attack, the suspect sent the money to another wallet of the Uniswap decentralized exchange to swap Ether.

This kind of use is said to be serious, because the dawn bridge promotes the migration of dynamic passwords between Harmony and three large networks-ethernet, bitcoin and Binance Chain. As a result, research is under way to verify the hackers and recover the funds. American Intelligence StationTrackedThe harmonious use of the North Korean Lazarus Company.

In addition, the stolen funds have been in dormancy mode, until some time ago, the suspect gradually transferred the money to several exchanges according to the complicated buying and selling chain. Elliptic, one of the companies investigating the matter, won a clue to the stolen funds and sent intelligence information to Binance and Huobi.

But the analyst contacted the illegal savings on its platform to log on to the password exchange and froze accounts related to hackers. According to the report, the frozen account has a data encrypted OTP of about $1.4 million.

Lazarus Group and several money laundering related activities related to data encryption

Many North Korean group companies are seen as related to money laundering and telecommunications network fraud related to login passwords, causing countries around the world to ban them. According to the report, after the theft of Harmony, the Lazarus Group used the Tornado Cash privacy mixer approved by OFAC to launder money. Although the application of the privacy mixer makes it easier to move funds on exchanges, it also facilitates Eliptic investigation and analysis, as the company can track stolen funds through the mixer.

In a statement, Simon Mini, CEO of Elliptic, commented on the progress. He said that this activity shows that the field has taken action to avoid money laundering and prevent the digital currency interior space from becoming a spiritual harbor of crime.

Recent events are not the first time Herbie has worked with Binance to deal with Harmony hacking attacks. On January 16, two digital currency exchangesFreeze clean and restore 121BTCAt that time, it was worth $2.5 million, which was related to the harmonious siege.

But the recent recovery is only a fraction of the $63.5 million the group laundered last week. According to the chain of detectionZachXBTThe suspect transferred 41000 ETH to three exchanges based on the privacy agreement of Ethernet Fong.

In addition, the latestThe oval survey was discovered.Lazarus Group laundered about $100m in BTC according to Sinbad. The company claims that Sinbad is the second release of Blder, a personal privacy mixer approved by OFAC.

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