Binance and Huobi Recover $2.5 Million in Stolen Bitcoins

• Binance and Huobi teams recovered 121 bitcoins from the Harmony bridge hackers
• The hackers were moving $64 million worth of ETH over the weekend
• On-chain crypto detective ZachXBT had tweeted about the hackers‘ movements

After one of the largest cryptocurrency hacks of 2022 took place in June, security teams from Binance and Huobi have finally recovered 121 bitcoins that were stolen from the Harmony bridge. The hackers had been trying to launder the stolen crypto assets and had already deposited them into the Huobi exchange.

Fortunately, Binance had detected the move and alerted Huobi. Binance then offered to assist Huobi in freezing and recovering the crypto assets. The total value of the recovered bitcoins was approximately $2.5 million.

Prior to Huobi and Binance recovering the bitcoins, on-chain crypto detective ZachXBT had tweeted saying that the hackers were moving 41,000 ETH worth about $64 million over the weekend. It is believed that the hackers were planning to use the ETH to purchase the stolen bitcoins and launder them.

The Harmony One team had first detected the hack on June 1st last year and it was estimated that over $100 million had been lost. This was one of the biggest hacks in recent history, and the team was able to recover a fraction of the stolen funds.

Binance CEO, Changpeng Zhao, expressed his relief over the successful recovery of the stolen bitcoins. He also commended the Binance and Huobi teams for their efforts in recovering the crypto assets.

The successful recovery of the stolen funds is a positive sign for the crypto industry and will give investors more confidence when investing in crypto projects. It also serves as a reminder to crypto holders to stay vigilant and protect their crypto assets from hackers.