• April 23, 2024

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Huobi and Binance Freeze Assets Stolen in Horizon Bridge’s Attack

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Cryptocurrency exchanges Binance and Huobi froze last Feb. 14 wallets containing about $1.4 million stolen in an attack on the cross-chain bridge Horizon of the Harmony protocol.

According to Elliptic researchers, until recently, the funds were without movement. However, then hackers started to move assets to centralized exchanges through complex chains of transactions.

Elliptic has notified trading platforms of illegal deposits, which in turn suspended the hackers’ accounts and froze funds in real time.

The damage from the hacking of the Horizon cross-chain bridge in June 2022 amounted to $100 million. Subsequently, the funds were laundered through crypto mixer Tornado Cash, which is now under US sanctions.