"Binance and Huobi, two leading cryptocurrency exchanges, have joined forces to recover $2.5 million from hackers who targeted the Harmony One blockchain. The collaboration highlights the importance of cooperation in the fight against cybercrime in the crypto industry
Binance and Huobi, two of the world's largest cryptocurrency exchanges, have announced that they are working together to recover $2.5 million that was stolen from the Harmony One blockchain. The hack took place on January 12, 2021, and the attackers were able to steal large amounts of ONE tokens, the native cryptocurrency of the Harmony One blockchain.
In response to the attack, Binance and Huobi immediately froze the affected accounts and launched an investigation to track down the stolen funds. The two exchanges have now announced that they have successfully traced the stolen funds and are working together to recover them.
This collaboration between Binance and Huobi is a significant step in the fight against cybercrime in the crypto industry. Both exchanges have a strong reputation for security and have implemented advanced measures to protect their users' assets. However, as the crypto industry continues to grow and evolve, it is important for all participants to work together to combat the growing threat of hacking and theft.
The incident is a reminder of the importance of being cautious when dealing with cryptocurrency and the need for exchanges to have robust security measures in place. The fact that Binance and Huobi were able to quickly track down the stolen funds and work together to recover them is a testament to their commitment to security and the effectiveness of their measures.
In conclusion, Binance and Huobi's collaboration to recover $2.5 million from the Harmony One hackers shows the importance of cooperation in the fight against cybercrime in the crypto industry. The incident also serves as a reminder for all crypto enthusiasts to be cautious and practice safe storage of their assets.