Ronin Hacker moved 21,000 Ether to Tornado Cash

The entity behind Ronin’s record $655 million hacks in March appears to have moved tens of millions of dollars worth of stolen Ether (ETH) through Tornado Cash in the last week, according to blockchain data from addresses connected to the exploiter.

Over the last week, activity from the hacker’s main address, tagged Ronin Bridge Exploiter on the tracking service Etherscan, appears to reveal that over 21,000 ether was transferred to several wallets in multiple transactions. According to data, the fund was then transferred to the private exchange Tornado Cash, Ronin hacker appeared to have made many trades of 100 ether each from all of those wallets.

At current prices, the funds transferred to Tornado Cash are worth up to $65 million. Tornado improves transaction privacy by breaking the on-chain link between a source and a destination address. This enables hackers to hide their identities while withdrawing funds obtained illegally. Transfer amounts out of the main wallet range from 1,000 ether to 3,202 ether this morning, the biggest so far.

The exploiter made several ether deposits to some wallets, including 0xdf225C84A0eAEAaAC20E6C1d369e94EE13B9dF2A. Others, such as 0x429a66e7bD829F9453CEE5239Bfeaf5657A11A3e, have only received one deposit. At the time of writing, the main wallet held around 151,055 ether, which is worth $461 million at current pricing.

In March, a $625 million hack targeted Ronin validator nodes for Sky Mavis, the publisher of the popular Axie Infinity game, and the Axie DAO.
According to Ronin, the attacker “used hacked private keys to generate bogus withdrawals” from the Ronin bridge spanning two transactions, as shown on Etherscan.

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