- 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
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.
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.