Tornado Cash is a crypto-exchange that transfers more than 5505 Ether for Ronin Bridge exploitation.
Blockchain data indicated that the address responsible for the Ronin Bridge Attack, worth $625 million, had been transferring Ethereum tokens in excess of $10 million. This happened during the Asian morning hour.
According to data, Ronin hackers had made transfers of over 5505 Ethereum this morning. Additionally, the funds were sent from another Ethereum wallet funded by the prominent hacker’s blockchain address. These transactions took place in the wee hours of Wednesday. The funds were sent individually, each 100ether to Tornado privacy crypto-exchange.
Exploit of the Ronin Bridge Ether
Ronin Bridge is an Ethereum sidechain used for Axie Infinity’s play-to-earn and NFT games. Sky Mavis founded it. It currently operates both Ronin Bridge as well as Axie infinity.
Similar Reading: Bitcoin Market plunges into extreme fear, how scary is it?| Bitcoin Market Plunges Into Extreme Fear, How Scary Does It Get?
Hackers stole $625,000,000 worth of assets from The Ronin Bridge Network. Cybercriminals took advantage of it on March 23. This asset includes 25.5 millions USDC as well as 173,600 ether. This information was revealed in a blog report. The platform realized the attack when one of its users couldn’t withdraw 5,000 Ether from the Ronin Network.
Then they went to TwitterNotify the public about the security breach. The Ronin Bridge was temporarily closed down following the attack to allow for redevelopment of the platform. Moreover, even though attackers targeted the hack at Ronin and Axie Infinity, the incident didn’t affect the ‘axie’ tokens. The AXS tokens and the SLP tokens that facilitate transactions in the Axie Infinity games are safe and sound.
Blockchain Data Reveals Ether Fund Transfers
Etherscan, which is a platform for tracking blockchain transactions, discovered that approximately 55 transactions had been made by attackers from an address belonging to the principal looter. The current wallet has 3.45ether. That’s $6,885.84.
The massive sale of looted ether was completed in April, when more than 21,000 ether were transferred via various transfers from the Tornado exchange. This transaction was valued at more than $65million.
Tornado Privacy Crypto Exchange
Tornado is a crypto exchange which tweaks and cuts through the chain for destination and source addresses. Hackers can hide their identities while illegally withdrawing the looted money.
North Korean Hackers Get Looted by The United States
The United States official had previously traced the looter’s address to the “Lazarus” group, an infamous group of hackers sponsored by the North Korean supreme leader Kim Kuk-song. Also, ChainalysisThe blockchain tracking platform e-Trailer tracked and verified the transaction between North Korean Cybercriminal Group.
R New Data Shows China Still Controls 21% Of The Global Bitcoin Mining Hashrate| New Data Shows China Still Controls 21% Of The Global Bitcoin Mining Hashrate
A thread was posted on Twitter that provided evidence of March’s exploitation by the Lazarus Group.
Sky Mavis Receives $150 Million From A Funding Round for Regain Ronin Bridge
After the massive attack, exploitation, Sky Mavis and Axie Infinity platforms were both destroyed, more than $150 million was raised. After the previous attack, this effort was made to recover the Ronin Bridge platform.
Among the list of supporters was the world’s biggest cryptocurrency exchange Binance, alongside other crypto entities.
Featured image taken from Pexels. Also, chart from EtherScan.