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


More than 5,505 Ether exploits from Ronin Bridge appear to have been transferred through Tornado Cash, a unique privacy crypto exchange.

Blockchain data shows that the address associated with the $625 million Ronin Bridge Attack has begun to transfer ether tokens worth over $10 million. This happened during the Asian morning hours.

The data showed that the Ronin hacker transferred more than 5,505 Ethers to one unknown account This morning. In addition, funds were sent from another Ethereum wallet that was funded by the prominent hacker’s blockchain address. It all happened in the early hours of Wednesday, as the funds were sent in blocks of 100 Ether each to the Tornado Privacy Crypto exchange.

Exploiting the ether of the Ronin Bridge

Ronin Bridge is an Ethereum-based side-chain for the play-to-earn game Axie Infinity, an NFT game. It was created by Sky Mavis and powers both Ronin Bridge and Axie Infinity.

Related reading | Bitcoin market plunges into extreme fear, how terrifying is it?

On March 23, cybercriminals took advantage of the Ronin Bridge network, and hackers stole more than $625 million in assets. Assets consist of $25.5 million and over 173,600 Ethers. A report on their blog revealed this data. The platform became aware of the attack when one of its users was unable to withdraw 5,000 Ethers from the Ronin network.

ether
Ethereum drops below 2k | Source: TradingView

Then they took to Twitter To notify the public of a security breach on the Platform. After the hack, the Ronin Bridge was temporarily closed for the redevelopment of the platform. Moreover, although the attackers targeted the hack on Ronin and Axie Infinity, the incident did not affect the “axie” tokens. Therefore, the AXS and SLP tokens used to facilitate transactions within the Axie Infinity game remain safe and unaffected.

Blockchain Data Reveals Ether Fund Transfer Continues

In the early hours of Wednesday, Etherscan, the blockchain tracking platform, revealed that the attackers conducted around 55 transactions from an address funded by the master thief. offline wallet Holds 3.45 Ether, for a total of $6,885.84.

ether
(Image source: EtherScan)

The move came on the heels of the massive sale of looted Ether in April when thieves moved more than 21,000 Ether via various transfers to the Tornado exchange. The deal was worth more than $65 million at the time.

Tornado Privacy Crypto Exchange

Tornado crypto exchange is an advanced crypto exchange that modifies and hacks through the chain to get the source and destination address. Thus, enabling hackers to hide their addresses while withdrawing illegally looted funds.

The United States traces the looting to North Korean hackers

The US official had previously traced the thieves’ address to the “Lazarus” group, a notorious group of hackers sponsored by North Korean leader Kim Kok-sung. also, decompositionA blockchain tracking platform, tracked and confirmed the transaction between a group of North Korean cybercriminals.

selated reading | New data shows that China still controls 21% of the global Bitcoin mining hash rate

In a Twitter thread, the platform provided evidence that the Lazarus group is behind the Mars exploit.

Sky Mavis is accumulating $150 million in a funding round to restore the Ronin Bridge

Sky Mavis, Ronin Bridge and Axie Infinity platform have raised more than $150 million after massive attack and exploitation. This effort was to restore the Ronin Bridge platform after the previous strike.

Among the list of backers, the world’s largest cryptocurrency exchange was Binance, along with other crypto entities.

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





Leave a Comment

Your email address will not be published.