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Address Related to Ronin Hack Makes Big Ethereum Transfer

Wed, 05/18/2022 - 06:18
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Alex Dovbnya
The Ethereum funds that have been moved to the Tornado Cash coin mixer
Address Related to Ronin Hack Makes Big Ethereum Transfer
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According to Etherscan data, an address linked to the Ronin Network hack has transferred by 5,505.7 ETH ($11 million).

This brings the total amount of transferred funds to 23,525 ETH ($48 million).

The aforementioned sum was divided into seven successive transactions that have occurred over the past week. The vast majority of the Ronin hacker’s funds have been deposited to Tornado Cash, an Ethereum-based coin mixer, in order to launder the stolen funds.

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As reported by U.Today, the gaming-focused Ronin network, which was made specifically for Axie Infinity, suffered a $625 million hack in March, which made it one of the biggest security breaches in the history of decentralized finance and crypto. The hackers stole large quantities of ETH and USDC tokens.  

It later turned out that the massive hack was orchestrated by Lazarus Group, one of the world’s most notorious hacking groups that are allegedly controlled by the North Korean government.

In early April, Axie Infinity creators announced that they had raised $150 million in order to compensate victims.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at