Binance assists in recovering $3M from Concord bridge hack

Binance assisted Huobi in recovering 124 Bitcoin (BTC) — price $2.58 million — from the Concord bridge hacker, based on Binance CEO Changpeng Zhao (CZ).

The hacker beforehand tried to make use of Binance to launder the stolen funds, however the account was frozen, based on CZ’s tweet.

The collaboration between the 2 exchanges additionally foiled the hacker’s new makes an attempt to make use of Huobi, as confirmed by Huobi’s advisor Justin Solar.

$64 million on the transfer

In the meantime, on-chain sleuth ZachXBT reported on Jan. 16 that North Korea’s Lazarus Group moved 41,000 Ethereum (ETH) — price $64 million — from the Concord (ONE) Bridge hack over the weekend.

The funds’ switch originated in batches of 100 ETH from OFAC-sanctioned Twister Money to a different privateness platform, Railgun, based on the chart shared by ZachXBT.

ZachXBT mentioned the funds had been later consolidated and deposited on three unnamed exchanges.

The actions had been first observed by the crypto compliance platform MistTrack on Jan. 14, tweeting {that a}n handle related to the Concord bridge exploit was on the transfer.

Following a $100 million Concord bridge hack on June 24, 2022, the layer-1 blockchain provided a $1 million bounty for the return of the funds. Blockchain analytical agency Elliptic later traced the assault to North Korea’s Lazarus Group.

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