CZ, Binance’s CEO just tweeted this:
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.
This is a positive development in the ongoing fight against hacking and money laundering in the cryptocurrency industry. It shows that Binance is actively monitoring for suspicious activity and taking steps to prevent these types of criminal activities on its platform. Additionally, the fact that Binance was able to assist another exchange, Huobi, in recovering stolen funds is a good indication of cooperation and collaboration between different cryptocurrency exchanges to combat these issues.
On the comments CZ also stated that some exchanges are collaborative and talk to each other to prevent scammers and exploiters to cash out but that not every exchange does. Let’s hope this is a lesson for exchanges to help each other out.