As per Blockchain Data, The Ronin Exploit Has Generated $10 Million In Ether

Twitter even revealed confirmation of the Lazarus group’s involvement in the March exploitation in a thread. Following the major attack and exploitation, Sky Mavis, the Ronin Bridge, and the Axie Infinity platform raised nearly $150 million.

Ronin Bridge is an Ethereum-based sidechain for the NFT game Axie Infinity, which is a play-to-earn game. Sky Mavis designed it, and it runs both Ronin Bridge and Axie Infinity.

There are 25.5 million USDC and over 173,600 ether in the assets. This data was delivered in a blog entry. When one of its customers couldn’t withdraw 5,000 Ether from the Ronin Network, the platform realized it had been hacked.

Tornado Cash, a unique privacy crypto exchange, appears to have received more than 5,505 Ether from the Ronin Bridge hack. The address linked to the $625 million Ronin Bridge Attack had started transferring ether tokens worth more than $10 million, according to blockchain data. This happened in the early morning hours of Asia.

Ether Exploit For Ronin Bridge

The Ronin hacker had sent over 5,505 ether to one unknown account this morning, according to the statistics. The coins were also sent from another Ethereum wallet that was financed via the well-known hacker’s blockchain address. All of this happened in the early hours of Wednesday, when the monies were transmitted to the Tornado privacy crypto exchange in batches of 100 ether apiece. Ronin Bridge is an Ethereum-based sidechain for the NFT game Axie Infinity, which is a play-to-earn game. Sky Mavis designed it, and it runs both Ronin Bridge and Axie Infinity.

On March 23, fraudsters took advantage of The Ronin Bridge Network, stealing almost $625 million in assets. There are 25.5 million USDC and over 173,600 ether in the assets. This data was delivered in a blog entry. When one of its customers couldn’t withdraw 5,000 Ether from the Ronin Network, the platform realized it had been hacked.

They then took to Twitter to inform the public of the platform’s security violation. The Ronin Bridge was briefly stopped down after the hack in order to revamp the platform. Furthermore, despite the fact that the attackers targeted Ronin and Axie Infinity, the incident had no effect on the ‘axie’ tokens. As a result, the AXS and SLP tokens used to conduct transactions in the Axie Infinity game remain unaffected.

Etherscan, a blockchain tracking programme, revealed that the attackers made roughly 55 transactions from an address sponsored by the main looter in the early hours of Wednesday. The wallet currently holds 3.45 ether worth $6,885.84. This action followed the looters’ enormous sale of looted ether in April, when they transferred over 21,000 ether to the Tornado market via multiple transfers. The deal was valued at more than $65 million at the time.

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Ongoing Ether Fund Transfer Revealed Via Blockchain Data

Tornado is a sophisticated crypto exchange that modifies and breaks the on-chain for a destination and source address. As a result, hackers can conceal their identities while fraudulently extracting funds. The looter’s address has previously been traced to the Lazarus organization, a notorious hacking collective backed by North Korean Supreme Leader Kim Kuk-song. The transaction between the North Korean Cybercriminal gang was also identified and confirmed by Chainalysis, a blockchain tracking company.

Twitter even revealed confirmation of the Lazarus group’s involvement in the March exploitation in a thread. Following the major attack and exploitation, Sky Mavis, the Ronin Bridge, and the Axie Infinity platform raised nearly $150 million. After the previous hit, this effort was made to reclaim the Ronin Bridge platform. Binance, the world’s largest cryptocurrency exchange, was among the sponsors, as were other crypto businesses.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing