Blockchain Tech Data Indicates $10M Worth Of Ether From The Ronin Exploit In Rotation

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Blockchain Tech Data Indicates M Worth Of Ether From The Ronin Exploit In Rotation

Greater than 5,505 Ether of the Ronin Bridge exploitation seems to be transferred through Tornado , a unique privacy cryptocurrency exchange.

Blockchain Tech data showed that the address associated with the $625 Million Ronin Bridge Attack had begun ether crypto tokens valued at over $10 Million. This took place during the Asian morning hours.

The data showed that the Ronin hacker had transferred over 5,505 ether to one unknown account this morning. In addition, the funds were sent from another Ethereum (ETH) wallet funded by the prominent hacker’s blockchain tech address. All took place within the early hours of Wednesday, as the funds were sent in groups of 100 ether each to the Tornado privacy cryptocurrency exchange.

The Ronin Bridge Ether Exploit

Ronin Bridge is an Ethereum- sidechain for the play-to-earn game Axie Infinity, an non-fungible token(NFT)  game. It was created by and is running both Ronin Bridge and Axie Infinity.

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On March 23, cybercriminals exploited The Ronin Bridge Network, and the attackers looted over $625 Million worth of assets. The assets comprise 25.5 Million USDC and over 173,600 ether. A report on their blog revealed this data. The platform discovered the attack when one of users couldn’t withdraw 5,000 Ether from the Ronin Network.

etherEthereum (ETH) falls 2k | Source: TradingView

Then, they took to Twitter to notify the public of the security breach on the platform. Following the hack, the Ronin Bridge temporarily to redevelop the platform. Furthermore, though attackers targeted the hack at Ronin and Axie Infinity, the incident didn’t affect the ‘axie’ crypto tokens. Consequently, the AXS and SLP crypto tokens used to facilitate transactions within the Axie Infinity game are still safe and unaffected.

Blockchain Tech Data Reveals Ongoing Ether Fund Transfer

Within the early hours of Wednesday, Etherscan, a blockchain tech tracking platform, revealed that the attackers made about 55 transactions from an address funded by the principal looter. At present, the wallet holds 3.45 ether, summing to $6,885.84.

Ether(Image Source: EtherScan)

This step followed the substantial of looted ether in April when the looters transferred over 21,000 ether via several transfers to the Tornado exchange. The was worth over $65 Million then.

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Tornado Privacy Cryptocurrency Exchange

Tornado cryptocurrency exchange is an advanced cryptocurrency exchange that tweaks and breaks through the on-chain for a destination and source address. Thus, enabling attackers to hide their while illegally withdrawing looted funds.

The  United States Trace the Looting to North Korean Hackers

The  United States had previously traced the looter’s address to the “Lazarus” group, an infamous group of attackers sponsored by the North Korean supreme leader Kim Kuk-song. Likewise, Chainalysis, the blockchain tech tracking platform, traced and confirmed the transaction in the middle of the North Korean Cybercriminal group.

In a thread on Twitter, the platform even provided proof of the Lazarus group being behind the March exploitation.

Sky Mavis Accrues $150 Million In A Financing Round to Regain Ronin Bridge

Sky Mavis, the Ronin Bridge, and the Axie Infinity platform raised over $150 Million following the substantial attack and exploitation. This effort was to regain the Ronin Bridge platform after the previous hit.

Between the list of supporters was the world’s largest digital currency exchange Binance Crypto exchange, alongside other cryptocurrency entities.

Featured image from Pexels, charts from EtherScan and TradingView.com



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