Lazarus Group Moves $64 Million from Harmony Exploit, Binance Freezes 125 BTC from Loot

Infamous Lazarus Group began moving funds from Harmony hack over the weekend. Binance managed to recover some of the loot.

Lazarus Group Kim Jong-un glitching and laughing.

The notorious North Korean hacking group Lazarus began laundering funds stolen from Harmony over the weekend to the tune of $64 million in ETH. Binance tried to recover some of the stolen funds.

Lazarus Group Moves $64M from Harmony Hack

In June 2022, the Lazarus Group exploited Horizon Bridge, a cross-chain interoperability protocol. They siphoned as much as $100 million from the DeFi protocol. Over the weekend, the infamous hackers began moving the loot.

The pseudonymous blockchain sleuth ZachXBT reported that over the weekend, the group moved “$63.5 million (~41,000 ETH) from the Harmony Bridge hack,” identifying over 350 addresses linked to the attackers.


According to ZachXBT, the funds were moved through Railgun before being deposited on three different exchanges. Railgun is not a coin mixer (like Tornado Cash) but makes transactions fully invisible through zk-SNARKs cryptography.

Binance Freezes 125 BTC from the Loot

Changpeng “CZ” Zhao, the CEO of Binance, also announced today that the exchange detected fund movement from the Harmony hacker. He adds that Binance proceeded to freeze his accounts.


According to CZ, the same activity was also identified on the crypto exchange Huobi. Binance assisted the Huobi team in freezing the accounts. Both crypto exchanges have recovered 124 BTC, worth approximately $2.59 million.

On the Flipside

  • Lazarus Group isn’t letting up on its nefarious activities, recently impersonating venture capitalists to invest in crypto startups for phishing schemes.

Why You Should Care

As the Lazarus Group becomes more adept at stealing and moving illicit crypto, projects must do more to protect users from their activities.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia