Millions of Dollars Worth of Ethereum (ETH) Sent by Hacker to Coin Mixer Following Harmony (ONE) Attack: Report

A blockchain security firm finds that the hackers behind the Harmony (ONE) breach sent tens of millions of dollars worth of Ethereum (ETH) to a coin mixer.

Harmony was hacked for approximately $100 million worth of crypto assets last Friday.

The attackers reportedly breached the Horizon Bridge, which provides the ability to transfer assets between Ethereum, Binance Smart Chain and Harmony.

Now, crypto security firm PeckShield reports the hackers have moved tens of millions of dollars worth of ETH to Tornado Cash, a widely used coin mixing service.

#PeckShieldAlert ~18k $ETH (~22m) into 0x1e…6430 from @harmonyprotocol exploiters pic.twitter.com/NN4j5Korsz

— PeckShieldAlert (@PeckShieldAlert) June 27, 2022

Coin mixing services obfuscate transactions by breaking the on-chain link between the sender and the recipients and are often used by hackers to make stolen funds untraceable.

Harmony, an Ethereum competitor, acknowledged the stolen assets were being moved to Tornado Cash.

“The team is working with two highly reputable blockchain tracing and analysis partners, and collaborating with the FBI as part of an investigation into this criminal act.

In parallel, we’re reviewing various options for users and partners and will keep you updated as we continue to explore ways to secure the ecosystem. While we cannot go into specifics, our goal is to share information in a timely manner with as much transparency as possible.”

Harmony native token ONE is trading for $0.018 at time of writing, down more than 30% in the past week.

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Featured Image: Shutterstock/Oxanaso/VECTORY_NT