Cryptocurrency exchanges Binance and Huobi have once again frozen accounts linked to the $100 million Harmony Horizon bridge hack last June.

Thank you for reading this post, don’t forget to subscribe!

About $1.4 million in cryptocurrency frozen by trading platforms came from accounts linked to the well-known Lazarus group, which operates 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. However, the company did not specify which coins or tokens had been frozen.

Exchanges @binance and @HuobiGlobal today frozen accounts containing $1.4 million stolen by North Korea’s Lazarus Group. This was made possible thanks to intel from Elliptic’s real-time investigations tools and a swift response by the receiving exchanges. https://t.co/f5bVpm8yfH

— elliptic (@elliptic) February 14, 2023
Exchanges @binance and @HuobiGlobal have today frozen accounts containing $1.4 million stolen by North Korean group Lazarus. This has been possible thanks to the information from Elliptic’s real-time research tools and the quick response of the receiving exchanges. https://t.co/f5bVpm8yfH

Elliptic explained that it passed the information on to Binance and Houbi, who moved quickly to freeze the accounts linked to the Lazarus group:

“The stolen funds lay dormant until recently, when our investigators began to see them funneled through complex transaction chains, to exchanges. By promptly notifying these platforms of these illicit deposits, they were able to suspend these accounts and freeze the funds.”

The investigation was carried out by blockchain analytics firm Elliptic, according to a report shared by the firm on Feb. 14. However, the company did not specify which coins or tokens had been frozen.

Exchanges @binance and @HuobiGlobal today frozen accounts containing $1.4 million stolen by North Korea’s Lazarus Group. This was made possible thanks to intel from Elliptic’s real-time investigations tools and a swift response by the receiving exchanges. https://t.co/f5bVpm8yfH

— elliptic (@elliptic) February 14, 2023
Exchanges @binance and @HuobiGlobal have today frozen accounts containing $1.4 million stolen by North Korean group Lazarus. This has been possible thanks to the information from Elliptic’s real-time research tools and the quick response of the receiving exchanges.https://t.co/f5bVpm8yfH
Elliptic explained that it passed the information on to Binance and Houbi, who moved quickly to freeze the accounts linked to the Lazarus group:

“The stolen funds lay dormant until recently, when our investigators began to see them funneled through complex transaction chains, to exchanges. By promptly notifying these platforms of these illicit deposits, they were able to suspend these accounts and freeze the funds.”

Recent efforts by Elliptic last week also found that Lazarus Group has laundered around $100 million worth of bitcoin through “Sinbad,” which they claim is a relaunch of the now-OFAC-sanctioned privacy mixer Blender.

Lazarus Group is believed to have stolen well over $2 billion worth of cryptocurrency since it shifted its focus to the industry in 2017, according to Elliptic estimates.