Harmony Network Hacker Moves $21 Million of Stolen Funds to Tornado Cash

The stolen funds from Harmony’s Horizon Bridge hack have begun to move into the Tornado Cash Ethereum mixer, signaling that the attacker has no intention of accepting the $1 million bounty offered by the Harmony Network team.

The decision to go ahead with stealing the ill-gotten gains brings up the question about whether the Harmony team’s offer of just 1% of the $100 million in crypto funds stolen on Friday would be enough to convince the exploiter to return the funds to them.

Data gotten from PeckShield, an on-chain data analytics tracking company revealed that a total of 18,036.3 Ether, worth approximately $21 million, was moved out of the Horizon Bridge exploiter’s primary wallet on Tuesday. These funds were divided equally three ways and sent to three different addresses in single transactions, respectively, over 10 hours.

What You Should Know

  • Tornado Cash is a decentralized, non-custodial privacy solution built on Ethereum. It is a privacy tool that enhances the privacy of transactions by breaking the on-chain link between a source and a destination address. This allows exploiters and hackers to mask their addresses while withdrawing illicitly gained funds.
  • Tornado Cash supports mixing a maximum of 100 ETH at a time, which means large sums can easily take several hours to mix.
  • The first and second wallets that received ETH from the exploiter’s primary wallet have completed mixing the coins and are now left with about 16.3 ETH collectively, an amount likely too small to bother with.
  • The third wallet was busy sending batches of 100 ETH to Tornado in eight-minute intervals and still had 2,800 coins remaining as of the time of writing.
  • The Harmony team has not revealed the next steps on what it plans to do to replace the stolen funds in the bridge.

The project’s Twitter account reaffirmed on Monday that the team was working with “two highly reputable blockchain tracing and analysis partners,” along with the United State Federal Bureau of Investigation, to investigate the hack.

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