- Sky Mavis secured $150 million in a round led by Binance about a week after the unprecedented hack was reported to refund some of the customers who lost money in the heist.
- The Lazarus Group’s Specially Designated Nationals and Blocked Persons’ List entry identifier now includes an Ethereum address, according to the US Office of Foreign Assets Control. This proves that the Lazarus Group was involved in the $551.8 million Ronin Bridge hack that occurred last month.
- This proves that the group was behind the Ronin Bridge breach on March 23, which resulted in the theft of 173,600 Ethereum and 25.5 million USDC.
Since the $551.8 million exploits were found late last month, the Ronin team has been collaborating with federal agencies and Chainalysis. The Lazarus Gang, a North Korean cybercrime group, has been linked to the $550 million Ronin Chain hack, according to the US Treasury Department. The Ronin team has been collaborating with the US government and Chainalysis, a blockchain security analytics business, to identify the perpetrators.
Ronin Hack’s Status
The source of the Ronin hack has been identified. The US government assisted in the investigation of the Axie Infinity Network exploit case, which was one of the largest in cryptocurrency history. The Lazarus Group’s Specially Designated Nationals and Blocked Persons’ List entry identifier now includes an Ethereum address, according to the US Office of Foreign Assets Control. This proves that the Lazarus Group was involved in the $551.8 million Ronin Bridge hack that occurred last month.
The US Department of Treasury’s Office of Foreign Assets Control updated its Specially Designated Nationals and Blocked Persons’ List with an Ethereum address ascribed to the Lazarus Gang, a North Korean cybercrime group, according to the blockchain analytics firm Chainalysis. The address 0x098B716B8Aaf21512996dC57EB0615e2383E2f96 has also been linked to the hack. This proves that the group was behind the Ronin Bridge breach on March 23, which resulted in the theft of 173,600 Ethereum and 25.5 million USDC.
Sky Mavis Secured $150 Million In A Round Led By Binance
Chainalysis emphasized the necessity of knowing whether North Korean individuals utilize cryptography for illegal purposes. Moreover, a blockchain safety company emphasized that decentralized banking systems require increased safety. The company finished by stating that all of its goods had been updated to reflect the Lazarus Group’s ETH address in the Sanctions category.
The Ronin Network was created as either a sidechain to Axie Infinity, the largest famous play-to-earn bitcoin application, by Sky Mavis. The Ronin Bridge was hacked on March 23, but it took the Ronin team six days to find the exploit, which was worth over half a billion dollars. Following the hack, the Ronin team stated that it was collaborating with numerous federal agencies as well as Chainalysis to figure out who was behind the attack. Sky Mavis secured $150 million in a round led by Binance about a week after the unprecedented hack was reported to refund some of the customers who lost money in the heist.
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Source: https://www.thecoinrepublic.com/2022/04/25/the-lazarus-group-a-north-korean-cybercrime-organization-was-involved-in-the-ronin-hack/