Harmony hackers have begun laundering the Ethereum stolen from Horizon Bridge as of late. Of the $100 million in stolen Ethereum, the criminals have transmitted $36 million to a mixing service.
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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.
#PeckShieldAlert ~18k $ETH (~22m) into 0x1e…6430 from @harmonyprotocol exploiters pic.twitter.com/NN4j5Korsz
— PeckShieldAlert (@PeckShieldAlert) June 27, 2022
According to blockchain research by the blockchain security business, the hackers transmitted three transactions from the address used in the June 23rd attack totaling about 30K ETH (about $36 million) to the mixing service Tornado Cash, with $64 million still in the criminals’ Ethereum wallets.
1/ The Harmony team has identified a theft occurring this morning on the Horizon bridge amounting to approx. $100MM. We have begun working with national authorities and forensic specialists to identify the culprit and retrieve the stolen funds.
— Harmony đź’™ (@harmonyprotocol) June 23, 2022
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Launched in 2019, Harmony is a layer-1 proof-of-stake blockchain. Users can transfer coins between blockchains such the Harmony network and Ethereum, the Binance Chain, and Bitcoin using its Horizon bridge.
By gathering huge sums of coins in a single pool and “mixing” them, a procedure frequently used to launder illegally obtained tokens, crypto mixing services enable users to hide the origins of their cryptocurrency.
Wrapped Ethereum (WETH), AAVE, SUSHI, DAI, Tether (USDT), and USD Coin (USDC) totaling $100 million were among the cryptocurrency assets hacked on Thursday and exchanged for Ethereum. The company has recently stated that it has “found no evidence in any breaches of our smart contract codes nor vulnerabilities on the Horizon platform,” despite the fact that the incident was initially reported as a Harmony protocol vulnerability.
The most recent of many high-value thefts targeting DeFi protocols is the Harmony Protocol attack. North Korean-linked hackers stole $622 million from Ronin, the Ethereum sidechain of Axie Infinity, in March.
On Saturday, Harmony Protocol announced on Twitter that it would not support the filing of criminal proceedings if the bridge money were returned and offered a $1 million reward for their recovery. With today’s transactions, it looks that the offer was turned down.
We commit to a $1M bounty for the return of Horizon bridge funds and sharing exploit information.
— Harmony đź’™ (@harmonyprotocol) June 26, 2022
Contact us at [email protected] or ETH address 0xd6ddd996b2d5b7db22306654fd548ba2a58693ac.
Harmony will advocate for no criminal charges when funds are returned.
After the incident, Harmony reassured its users that the theft had no effect on its BTC bridge and that the business was collaborating with forensic experts and national authorities to find the offender and recover the money. Harmony also stepped up its security protocols.
According to tweets from Stephen Tse, founder of Harmony, “We have migrated the Ethereum side of the Horizon bridge to a 4-of-5 multisig since the incident,” which indicates that at least four out of five unique private keys will be required to sign and authorize transactions. “We will continue taking steps to further harden our operations and infrastructure security.”
7/ We have migrated the Ethereum side of the Horizon bridge to a 4-of-5 multisig since the incident. We will continue taking steps to further harden our operations and infrastructure security.
— stephen tse ❤️‍🔥 [email protected] (@stse) June 26, 2022