Earlier today, Binance and Huobi announced that they had thwarted a money laundering scheme involving funds stolen from Harmony Horizon Bridge last year.<\/p>\n
According to Changpeng Zhao \u201cCZ\u201d, Binance assisted Huobi in netting the hacker who had earlier tried to launder the stolen crypto assets through Binance.<\/p>\n
\u201cWe 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,\u201d <\/em>tweeted CZ.<\/p>\n According to the Binance founder, they recovered 124 BTC valued at approximately $2.5 million at press time. Huobi\u2019s advisor Justin Sun later confirmed the news thanking the exchanges\u2019 dedicated team for detecting and preventing the funds from being laundered.\u00a0<\/p>\n \u201cThis is a prime example of how centralized exchanges (CeFi) can work together to keep the crypto community SAFU. We will continue to be vigilant in our efforts to protect our users’ funds and promote a safe and secure trading environment,\u201d <\/em>he said.<\/p>\n The announcement comes after on-chain crypto sleuth ZachXBT highlighted that North Korea\u2019s Lazarus Group had sent 41,000 ETH worth about $64M over the weekend and $63.5m to three exchange addresses. Confirming that the ETH was from the Harmony Horizon Bridge hack, the detective noted that the assets had originated from anonymizing service Tornado Cash to Railgun before being deposited to the exchanges.<\/p>\n