BINANCE AND HUOBI FREEZE $1.4M IN CRYPTO LINKED TO NORTH KOREAN HACKERS

In a significant blow to cybercriminals and a testament to the growing sophistication of cryptocurrency tracing technologies, leading exchanges Binance and Huobi have successfully frozen approximately $1.4 million worth of crypto assets. Cryptocurrency exchanges Binance and Huobi have again frozen accounts linked to last June's $100 million Harmony Horizon bridge hack. Around $1.4 million worth of crypto frozen by the tradingThese funds are directly linked to the notorious Lazarus Group, a North Korean-controlled cybercriminal organization, and are suspected to be proceeds from the audacious $100 million Harmony Horizon bridge hack that occurred in June 2025.This decisive action highlights the increasing ability of exchanges and blockchain analytics firms to collaborate and combat illicit activities within the digital asset space.The swift response, aided by intelligence provided by blockchain analytics firm Elliptic, prevented further laundering of the stolen funds, signaling a strong deterrent to those attempting to exploit the decentralized nature of cryptocurrencies for nefarious purposes.

This incident underscores the ongoing challenge of securing cross-chain bridges and the lengths to which nation-state actors will go to acquire funds.The use of sophisticated privacy mixers to obfuscate the origin of the funds proved ultimately unsuccessful, showcasing the power of advanced blockchain analysis techniques. Binance and Huobi freeze $1.4M in crypto linked to North Korean hackers 免责声明：含第三方内容，不构成财务建议，并且可能包含赞助内容。 详见《条款和条件》。The collaboration between exchanges and specialized firms like Elliptic is crucial in maintaining the integrity of the cryptocurrency ecosystem and protecting users from the fallout of such large-scale hacks. Binance and Huobi have frozen $1.4M worth of crypto assets stolen by North Korean hacking group, Lazarus. The exchanges were able to suspend the accounts linked to Lazarus thanks to the findings of Elliptic.The following sections delve into the details of the hack, the Lazarus Group's methods, and the implications of this successful asset freeze.

The Harmony Horizon Bridge Hack and its Aftermath

The Harmony Horizon bridge hack, which took place in June 2025, was a significant event that shook the cryptocurrency world. Binance and Huobi froze accounts containing about $1.4m in crypto assets from the June 2025 hack of Harmony s Horizon Bridge on Feb. 14. Elliptic investigators believe it belongs to the Lazarus Group, a North Korean-controlled cybercriminal organization.A staggering $100 million in crypto assets was siphoned from the bridge, which facilitates the transfer of tokens between the Harmony blockchain and other networks, primarily Ethereum. Leading cryptocurrency exchanges Huobi and Binance froze a combined $1.4 million worth of crypto assets linked to a North Korean hacking group. The Hackers and the stolen funds. The stolen funds are suspected to have come from an attack on a South Korean crypto exchange in March 2025.This breach exposed vulnerabilities in cross-chain bridge security and sparked a wave of concern regarding the safety of decentralized finance (DeFi) protocols.

The attackers exploited a vulnerability in the multi-signature wallet used to secure the bridge.By compromising the private keys of the required signers, they were able to authorize fraudulent transactions and drain the bridge of its funds. The crypto exchanges Binance and Huobi have frozen North Korea-linked wallets containing approximately $1.4 million in cryptoassets. Per a blog post from the blockchain analytics firm Elliptic and a report from MBC, the coins originated from the June 2025 hack of Harmony s Horizon Bridge.This attack highlighted the critical importance of robust key management practices and the need for more secure cross-chain communication protocols. In the words of Elliptic CEO Simone Maini, Today, money laundering was detected and stolen funds linked to North Korea were frozen, in real time. Crypto exchanges Binance and Huobi have frozen $1.4M worth of crypto assets stolen by Lazarus, a North Korean hacking group.What security measures were specifically implemented to secure the cross-chain communication protocols after the hack?

• Multi-signature wallets required multiple approvals for transactions.
• Private key management practices were not sufficient to prevent compromise.
• Cross-chain bridges presented a significant attack vector for hackers.

Following the hack, Harmony developers worked to patch the vulnerability and restore the bridge's functionality. 😱😱Binance and Huobi freeze $1.4M in crypto linked to North Korean hackersHowever, the stolen funds remained at large, posing a risk to the broader crypto ecosystem.Law enforcement agencies and blockchain analytics firms launched investigations to track the movement of the stolen assets and identify the perpetrators.

Lazarus Group: A North Korean Cyber Threat

The Lazarus Group is a notorious cybercriminal organization with strong ties to North Korea. Binance and Huobi freeze $1.4M in crypto linked to North Korean hackers. The North Korean-based hacker outfit Lazarus Group resorted to different privacy mixers attempting to anonymize the stolen funds, but it didn t work.They are believed to be responsible for a wide range of cyberattacks, including ransomware attacks, bank heists, and cryptocurrency thefts.Their activities are often motivated by the need to generate revenue for the North Korean regime, which faces severe economic sanctions.

The group's sophistication and resources make them a formidable threat. Around $1.4 million worth of crypto frozen by the trading platforms came from accounts linked to the notorious Lazarus Group operating out of North Korea. The investigation was carried out by blockchain analytics firm Elliptic, according to a report shared by the firm on Feb. 14.They employ advanced hacking techniques, use sophisticated social engineering tactics, and are adept at concealing their tracks. 📌 Binance and Huobi freeze $1.4M in crypto linked to North Korean hackers. The North Korean-based hacker outfit Lazarus Group resorted to different privacy mixers attempting to anonymize theThey have been linked to numerous high-profile cyberattacks, including the WannaCry ransomware attack and the Sony Pictures Entertainment hack.

Attribution and Modus Operandi

Attributing cyberattacks to specific actors is often a challenging task, but evidence strongly suggests the Lazarus Group's involvement in the Harmony Horizon bridge hack. 😱😱Binance and Huobi freeze $1.4M in crypto linked to North Korean hackers 😱😱 Binance and Huobi freeze $1.4M in crypto linked to North Korean hackers 86Blockchain analysis revealed patterns of fund movement consistent with the group's previous activities. In connection with the Harmony Bridge robbery and the accused North Korean hackers behind it, Binance and Huobi on Tuesday froze $1.4 million in cryptocurrency. Elliptic, a crypto tracing company, claimed to have given the two exchanges knowledge that caused them to freeze accounts.The use of specific privacy mixers and the timing of the transactions further implicated the Lazarus Group.

The group typically employs a multi-stage process to launder stolen funds.They often use privacy mixers, such as Tornado Cash (before it faced sanctions) and ChipMixer, to obfuscate the origin of the funds.They then move the funds through a series of intermediary wallets, often across multiple exchanges, to further complicate the tracing process.The group has successfully stolen and laundered billions of dollars worth of cryptocurrency over the years. Cryptocurrency exchanges Binance and Huobi have once more frozen accounts linked to final June's $100 million Concord Horizon bridge hack.Their expertise and persistence make them a significant threat to the cryptocurrency ecosystem and global financial stability.

Binance and Huobi's Response: Freezing the Funds

The swift action taken by Binance and Huobi in freezing the $1.4 million in crypto assets is a testament to the growing maturity of the cryptocurrency industry. Huobi And Binance Freeze $1.4m In Crypto Linked To North Korean Hackers cryptoknowmics.com, UTC Binance and Huobi, two cryptocurrency exchanges, have frozen accounts associated with the $100 million Harmony Horizon bridge attack on J.These exchanges, among the largest in the world, have invested heavily in security measures and compliance programs to combat illicit activities on their platforms.

The freezing of the funds was made possible by intelligence provided by Elliptic, a leading blockchain analytics firm.Elliptic's investigators were able to trace the flow of the stolen funds from the Harmony Horizon bridge to accounts held on Binance and Huobi.They then alerted the exchanges, providing them with the necessary information to identify and freeze the assets.This collaboration between exchanges and analytics firms is essential for disrupting the flow of illicit funds and holding cybercriminals accountable.

The exchanges' ability to quickly respond to the threat demonstrates their commitment to maintaining a secure and compliant trading environment.The freezing of the funds not only prevents the Lazarus Group from further profiting from their criminal activities but also sends a strong message that cryptocurrency exchanges will not tolerate the use of their platforms for money laundering or other illicit purposes. 6.6K subscribers in the CryptoHorde community. A subreddit for people passionate about trading crypto, sharing ideas and making money 🚀What internal processes did Binance and Huobi employ to enable such a rapid response to Elliptic's findings?

The Role of Blockchain Analytics

Blockchain analytics plays a crucial role in combating cryptocurrency-related crime.By analyzing blockchain data, analytics firms can track the movement of funds, identify suspicious transactions, and uncover patterns of illicit activity.These insights are invaluable for law enforcement agencies, exchanges, and other stakeholders in the cryptocurrency ecosystem.

Firms like Elliptic use sophisticated algorithms and machine learning techniques to analyze vast amounts of blockchain data. Binance and Huobi freeze $1.4M in crypto linked to North Korean hackersThey can identify high-risk transactions, flag suspicious accounts, and trace the flow of funds across multiple exchanges and wallets.This information can be used to prevent money laundering, identify cybercriminals, and recover stolen assets.

1. **Transaction Tracing:** Following the movement of funds across the blockchain.
2. **Address Clustering:** Identifying groups of addresses controlled by the same entity.
3. **Risk Scoring:** Assessing the risk associated with specific transactions and addresses.

The collaboration between exchanges and blockchain analytics firms is a powerful tool for combating cryptocurrency crime. The North Korean-based hacker outfit Lazarus Group Cryptocurrency exchanges Binance and Huobi have again frozen accounts linked to last June's $100 million Harmony Horizon bridge hackBy sharing information and working together, they can create a safer and more secure environment for all participants in the cryptocurrency ecosystem.Furthermore, the utilization of blockchain forensics provides invaluable insights for law enforcement agencies when pursuing legal action against cybercriminals.

Privacy Mixers and the Challenge of Anonymity

The Lazarus Group, like many cybercriminals, relies on privacy mixers to obfuscate the origin of stolen funds.Privacy mixers, also known as tumblers, are services that combine multiple cryptocurrency transactions into a single, larger transaction. Crypto tracing firm Elliptic reported on Tuesday that it provided intelligence to Binance and Huobi that led to the freezing of $1.4 million in cryptocurrency linked to the Harmony Bridge heist and alleged North Korean hackers.This makes it difficult to trace the individual transactions and identify the original source of the funds.

While privacy mixers can be used for legitimate purposes, such as protecting the privacy of users who want to make anonymous transactions, they are also frequently used by criminals to launder illicit funds.The use of privacy mixers poses a significant challenge to law enforcement agencies and blockchain analytics firms, who are trying to track the movement of stolen assets.

Despite the challenges posed by privacy mixers, blockchain analytics firms have developed techniques to deanonymize these services.By analyzing patterns of transaction activity, they can often identify the input and output addresses of privacy mixers, allowing them to trace the flow of funds even through these obfuscation services.What specific strategies were employed to overcome the obfuscation tactics used in this case?

Examples of Privacy Mixers

Several privacy mixers have been used by cybercriminals to launder illicit funds.Some of the most well-known include:

• Tornado Cash: A decentralized privacy mixer that was sanctioned by the U.S.Treasury Department for its role in facilitating money laundering.
• ChipMixer: Another popular privacy mixer that has been used to launder billions of dollars worth of cryptocurrency.
• Blender.io: A Bitcoin mixer sanctioned by the U.S. Cryptocurrency exchanges Binance and Huobi have again frozen accounts linked to last June's $100 million Harmony Horizon bridge hack. Around $1.4 million worth of crypto frozen by the trading platforms came from accounts linked to the notorious Lazarus Group operating out of North Korea. The investTreasury Department for allegedly helping North Korean hackers launder cryptocurrency stolen in online heists.

The increasing scrutiny of privacy mixers by regulators and law enforcement agencies has led to a crackdown on these services.Many privacy mixers have been shut down or sanctioned, making it more difficult for cybercriminals to launder their illicit gains. Cryptocurrency exchanges Binance and Huobi have again frozen accounts linked to the $100 million Harmony Horizon bridge attack on Jun. 24, 2025. Around $1.4 million worth of crypto frozen by the trading platforms came from accounts linked to the notorious Lazarus Group operating out of North Korea.However, new privacy mixers continue to emerge, posing an ongoing challenge to law enforcement agencies and blockchain analytics firms. Binance and Huobi freeze $1.4M in crypto linked to North Korean hackers Cryptocurrency exchanges Binance and Huobi have again frozen accounts linked to the $100 million Harmony Horizon bridgeThis constant evolution underscores the need for continuous innovation in blockchain analysis techniques and regulatory frameworks.

Implications for the Cryptocurrency Ecosystem

The successful freezing of $1.4 million in crypto assets linked to the Lazarus Group has significant implications for the cryptocurrency ecosystem. The North Korean-based hacker outfit Lazarus Group resorted to different privacy mixers attempting to anonymize the stolen funds, but it Binance and Huobi freeze $1.4M in crypto linked to North Korean hackers - XBT.MarketIt demonstrates that exchanges and blockchain analytics firms are becoming increasingly effective at combating cryptocurrency crime.

The incident sends a strong message to cybercriminals that their activities will not go unnoticed and that their illicit gains can be seized.It also highlights the importance of collaboration between exchanges, analytics firms, and law enforcement agencies in maintaining the integrity of the cryptocurrency ecosystem. Cryptocurrency exchanges Binance and Huobi have again frozen accounts linked to the $100 million Harmony Horizon bridge attack on Jun. 24, 2025.Around $1.4 million worth of crypto frozen Binance and Huobi freeze $1.4M in crypto linked to North Korean hackersThe successful asset freeze further validates the utility and necessity of advanced blockchain analytics and proactive security measures in the fight against cybercrime within the digital asset space.

The incident also underscores the need for greater regulation of the cryptocurrency industry.While regulation can sometimes be seen as stifling innovation, it is also essential for protecting users and preventing illicit activities.Clear regulatory frameworks can provide exchanges and other cryptocurrency businesses with the guidance they need to comply with anti-money laundering laws and other regulations.How can regulators strike a balance between fostering innovation and preventing illicit activity within the cryptocurrency ecosystem?

The Importance of Regulation

The development of comprehensive and well-designed regulations is paramount for fostering a safe and sustainable cryptocurrency ecosystem.These regulations should address issues such as:

• Anti-Money Laundering (AML): Requiring exchanges and other cryptocurrency businesses to implement robust AML programs.
• Know Your Customer (KYC): Requiring exchanges to verify the identities of their customers.
• Security Standards: Setting minimum security standards for cryptocurrency businesses.

By implementing these types of regulations, governments can create a more level playing field for legitimate businesses and make it more difficult for criminals to use cryptocurrencies for illicit purposes.Effective regulation will also play a crucial role in fostering greater trust and confidence in the cryptocurrency market, encouraging wider adoption and mainstream integration.Moreover, international cooperation in establishing and enforcing these regulations is vital due to the borderless nature of cryptocurrencies.

Practical Advice for Crypto Users

While exchanges and analytics firms are working to combat cryptocurrency crime, individual users also have a responsibility to protect themselves.Here are some practical tips for staying safe in the cryptocurrency ecosystem:

• Use strong passwords and enable two-factor authentication (2FA) on all your accounts. This will make it more difficult for hackers to access your accounts.
• Be wary of phishing scams and other social engineering tactics. Never click on suspicious links or provide personal information to unknown individuals.
• Store your cryptocurrency in a secure wallet. Consider using a hardware wallet, which stores your private keys offline and is less vulnerable to hacking.
• Do your research before investing in any cryptocurrency. Understand the risks involved and only invest what you can afford to lose.
• Monitor your accounts regularly for suspicious activity. Report any unauthorized transactions to your exchange or wallet provider immediately.

By taking these precautions, you can significantly reduce your risk of becoming a victim of cryptocurrency crime.Staying informed about the latest security threats and best practices is essential for protecting your digital assets.Furthermore, diversifying your cryptocurrency holdings across multiple wallets and exchanges can mitigate the potential impact of a security breach or platform failure.

Conclusion: A Step Forward in Crypto Security

The collaborative action of Binance and Huobi in freezing $1.4 million in crypto assets linked to the North Korean Lazarus Group marks a notable victory in the ongoing battle against cryptocurrency crime.This incident underscores the increasing effectiveness of blockchain analytics and the growing commitment of exchanges to combat illicit activities on their platforms.The incident also highlights the importance of collaboration between exchanges, analytics firms, and law enforcement agencies in maintaining the integrity of the cryptocurrency ecosystem.Key takeaways include:

• The Lazarus Group continues to pose a significant threat to the cryptocurrency ecosystem.
• Binance and Huobi are taking proactive steps to combat cryptocurrency crime.
• Blockchain analytics plays a crucial role in tracing and recovering stolen assets.
• Greater regulation is needed to create a safer and more sustainable cryptocurrency ecosystem.
• Individual users must take steps to protect themselves from cryptocurrency crime.

While challenges remain, this successful asset freeze demonstrates that the cryptocurrency industry is becoming increasingly sophisticated in its ability to combat crime.By continuing to invest in security measures, promote collaboration, and advocate for responsible regulation, the cryptocurrency ecosystem can become a safer and more secure environment for all participants.Ultimately, continued vigilance, innovation, and cooperation are crucial for safeguarding the future of digital assets.Want to learn more about how to secure your crypto assets?Check out our comprehensive guide on cryptocurrency security best practices!