Harmony Protocol Attacker Starts Laundering Money Through Tornado Cash
- $64 million are remaining in the hacker’s Ethereum wallet after siphoning.
- Harmony reassured its customers that the theft had no effect on its BTC bridge.
According to PeckShield, the hackers who stole $100 million in Altcoins from the Horizon Bridge of the Harmony Protocol have started to launder the money. According to the blockchain security firm, the hackers moved three transactions totaling roughly 30K ETH (about $36 million) from the address used in the June 23rd attack to the mixing service Tornado Cash, with $64 million remaining in the hacker’s Ethereum wallet.
1/ We are aware the hacker has begun to move funds through Tornado Cash. The team is working with two highly reputable blockchain tracing and analysis partners, and collaborating with the FBI as part of an investigation into this criminal act.
— Harmony (@harmonyprotocol) June 28, 2022
Founded in 2019, Harmony is a layer 1 proof-of-stake blockchain. Harmony’s network, Ethereum, Binance Chain, and Bitcoin may be exchanged through its Horizon Bridge. Crypto mixing services, which are often used for the “mixing” of illicitly obtained tokens, let users hide the source of their cryptocurrency by pooling large numbers of coins and “mixing” them.
Hackers made off with $100 million worth of cryptocurrency, including Wrapped Ethereum (WETH), AAVE, SUSHI, DAI, Tether, and USD Coin (USDC). However, the corporation has said that it has “found no evidence in any breaches of our smart contract codes nor vulnerabilities on the Horizon platform.”
$1 Million Bounty Reward Rejected
In the last several years, millions of dollars have been stolen through DeFi protocols, and the Harmony Protocol attack is only the latest. Axie Infinity’s Ethereum sidechain, Ronin, was hacked in March by North Korean-affiliated hackers, and $622 million was stolen.
It was announced on Saturday that Harmony Protocol was giving a $1 million reward in exchange for the safe return of $1 million in bridge monies. As of today’s transactions, the offer has been turned down.
After the incident, Harmony reassured its customers that the theft had no effect on its BTC bridge and that the business collaborated with forensic experts and national authorities to find the offender and recover the money. Harmony has also implemented additional security precautions.
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Read more: https://thenewscrypto.com/harmony-protocol-attacker-starts-laundering-money-through-tornado-cash/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
