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Binance CEO Says the Exchange Helped Huobi to Halt the Account of Harmony One Exploiter

Umair Younas by Umair Younas
January 16, 2023 - 11:53 am
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Changpeng Zhao (the CEO of Binance) has recently shared some tweets on his official Twitter channel disclosing a funds exploitation attempt. In his posts, he noted that the security team of the crypto exchange informed him about the breach. As per him, they discovered fund movement by Harmony One hacker.

We detected Harmony One hacker fund movement. They previously tried to launder through Binance and we froze his accounts. This time he used Huobi. We assisted Huobi team to freeze his accounts. Together, 124 BTC have been recovered. CeFi helping to keep DeFi #SAFU! 🙏

— CZ 🔶 Binance (@cz_binance) January 16, 2023

Changpeng Zhao of Binance Says Crypto Exchange Assisted Huobi in Freezing Hacker’s Accounts

The CEO asserted that the exploiter formerly attempted to launder funds via Binance. On that occasion, the cryptocurrency exchange halted the accounts linked to the hacker. Nonetheless, the exploiter did not give up its efforts to fulfil the malicious purposes. As a result, they moved toward Huobi to carry out their bad endeavours. When the crypto exchange discovered the matter they assisted Huobi to deal with the issue.

Both platforms made mutual efforts to stop the accounts of the exploiter. In addition to halting the hacker’s accounts, the companies also remained effective in recovering up to 124 BTC tokens. Zhao moved on to assert that a centralized finance (CeFi) platform has helped a decentralized finance (DeFi) company in maintaining its security.

Justin Sun Appreciates CeFi Exchange’s Efforts in Preventing Security Breaches

On noticing all this, Justin Sun (the advisor to Huobi Global) expressed his gratitude to Binance for cooperation in dealing with the matter. He also noted that they successfully discovered as well as prevented the Harmoney One exploiter from an attempt for laundering money via Huobi Global.

We're proud to announce that thanks to our dedicated team and collaboration with @binance, we were able to detect and prevent a Harmony One hacker from attempting to launder funds through @HuobiGlobal. https://t.co/7D2MSo8TEX

— H.E. Justin Sun🌞🇬🇩🇩🇲🔥₮ (@justinsuntron) January 16, 2023

Apart from that, the Huobi Global advisor categorized this event as a remarkable example presenting the potential of centralized finance organizations to provide safety to the crypto community. The advisor also asserted that they will keep on vigilantly observing any suspicious activities to dump them before they could cause any harm to their clients.

Tags: BinanceBitcoinBTCCZExchangeHackHuobi
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Umair Younas

Umair Younas

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

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