Harmony Hackers Start Laundering Stolen ETH From Horizon Bridge

Harmony hackers started laundering the stolen ETH from the Horizon bridge and sent $36 million of the $100 million to a mixing service so let's read more today in our latest cryptocurrency news. The hackers responsible for stealing $100 million in altcoins from the Harmony Horizon bridge started laundering the funds according to PeckShield.

Timeline of Ethereum, Harmony

According to a PeckShield report, The Harmony attacker has already mixed more than $12 million through the protocol, and they're sending 100 ETH to Tornado Cash every six minutes. On Thursday morning, the proof of stake blockchain “Harmony” disclosed that $100 million worth of cryptocurrency had been stolen from its Horizon bridge.

MThe Ethereum network is scheduled to undergo the Gray Glacier upgrade at a block height of 15,050,000 — expected to occur on June 30 at approximately 11:00 BST. The post What does the Gray Glacier upgrade mean for the Ethereum Merge?

Ethereum price analysis shows that more buyers are willing to consolidate their positions near $1,000 support zone. The hourly timeframes show low volumes but the price is not dropping below $1,100 despite repeated attempts by the bears.

The harmony attacker has begun moving the stolen crypto to Tornado Cash. According to Etherscan, the wallet used in last week's Harmony attack transferred a little over 18,036 ETH worth about $21 million at the writing time to a backup wallet.

Layer 1 blockchain protocol Harmony (CRYPTO: ONE) has offered a bounty of $1 million for information about a theft on the Horizon bridge amounting to around $100 million, in which tokens including Wrapped Ethereum (CRYPTO: WETH), Aave (CRYPTO: AAVE), SushiSwap (CRYPTO: SUSHI), DAI (CRYPTO: DAI), Tether (CRYPTO: USDT) and USD Coin (CRYPTO: USDC) were stolen. "Harmony will advocate for no criminal charges when funds are returned," the company stated.

A new report from Morgan Stanley has revealed that if Ethereum switches to a proof-of-stake (PoS) consensus as planned, it will do away with the need for miners, reducing the demand for graphics processing units (GPUs), and significantly lower energy needs. Ethereum Miners Could Find Alternatives, Says Morgan Stanley GPU usage may decrease if Ethereum

The hacked XCarnival protocol was recently hacked after an attacker used a flaw in the smart contracts which showed released NFT as available for collateral to be used for borrowing as we reproted in our latest cryptocurrency news. the hacked XCarnival platform described itself as a metaverse Asset Bank and lost over 3087 ETH to

The hacker has started funneling funds via the Tornado Cash coin mixing service despite Harmony offering a $1 million bounty. The post Hacker begins laundering funds from $100 million Harmony bridge attack appeared first on The Block.

According to a Morgan Stanley analyst, demand for GPUs should reduce with Ethereum transitioning into a proof-of-stake network. The crypto drawdown has further reduced the profitability of Ethereum mining.

Past trend of the Ethereum value captured per byte metric suggests that a 50% drawdown from here is still possible for ETH. Ethereum Value Captured Per Byte Currently Stands At $0.30, Double The Previous Bear Bottoms As per the latest data released by Glassnode, ETH may still possibly have potential for a further 50% plummet