Binance Recovers $5.8M Linked to Axie Infinity Hack

Binance, a cryptocurrency exchange, has recovered $5.8 million in stolen assets from last month’s extraordinary Axie Infinity hack.

Binance founder claimed in a tweet on Friday that the assets were dispersed over 86 accounts

“Today, the DPRK hacking squad began moving their stolen Axie Infinity funds. A portion of it was sent to Binance, where it was split across 86 accounts. “A total of $5.8 million has been recovered,” he stated.

According to reports, the $625 million cryptocurrency exploit was linked to North Korea’s “Lazarus” cyber organization by US security officials.

The Axie Infinity bridge’s designers, Ronin Network, announced in a blog post that the FBI had tied Lazarus to the validator breach and that the payments had been sanctioned by the Treasury Department.

Hackers hacked Ronin Network, the side-chain built to expand Axie Infinity, about a month ago, and made off with almost $615 million in ETH.

Out of the 173,000 ETH taken in the Ronin Bridge assault, the hackers appear to have cashed in 28,164 ETH, with a current market value of $86,128,384.73.

The hackers had already moved about 2000 ETH ($6 million) two weeks ago, and they are currently on the move once more.

As previously reported, the exploiters used the anonymity tool Tornado Cash to transfer stolen cash to ether and other cryptocurrencies.

In August 2021, a hacker stole $611 million by exploiting the cross-chain DeFi protocol Poly Network. The overwhelming majority of the funds were returned.
The Ronin attacker’s Ethereum address is new, having received ETH from Binance one week ago.

Several thousand ether (ETH) were moved in the last few days from the exploiter’s main address, which has been dubbed Ronin Bridge Exploiter on the tracking service Etherscan. At the time of writing, the wallet still has $285 million in the asset.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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