Address Related to Ronin Hack Makes Big Ethereum Transfer

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.

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.