- 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.
We detected Harmony One hacker fund movement. They previously tried to launder through Binance and we froze his accounts. This time he used Huobi. We assisted Huobi team to freeze his accounts. Together, 124 BTC have been recovered. CeFi helping to keep DeFi #SAFU!
— CZ Binance (@cz_binance) January 16, 2023
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.
Recommended Content
Editors’ Picks
Is Altcoin Season here as Bitcoin reaches a new all-time high?
Bitcoin reaches a new all-time high of $98,384 on Thursday, with altcoins following the suit. Reports highlight that the recent surge in altcoins was fueled by the victory of crypto-friendly candidate Donal Trump in the US presidential election.
Shanghai court confirms legal recognition of crypto ownership
A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.
BTC hits an all-time high above $97,850, inches away from the $100K mark
Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.