Sunday, January 29, 2023

Axie Infinity’s Ronin Bridge Hacker Moved 38,293 ETH: Report

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Axie Infinity’s Ronin bridge hacker just moved 38,293 ETH worth over $114 million as we can see more today in our latest cryptocurrency news.

Almost a month ago, Ronin Network as the side chain built to scale Axie Infinity was exploited by the hackers that made off with more than $615 million worth of coins. The hackers chased in about 28,165 ETH out of the 173,000 stolen in the attack with a current market value of $86,128,384. The attackers initially moved over 2000 ETH 2 weeks ago and now the hackers are on the move again. It seems that the Axie Infinity’s Ronin bridge hacker moved another wave of coins in wallets related to the exploit.

It takes the attackers 4-6 hours to empty each wallet of 100 ETH – image taken from Reddit post.

The Reddit user ThatGuy222666 was keeping track of the main wallet since the Ronin Bridge got exploited and it looks like the attackers use multiple wallets to deposit the coins into Tornado cash which is a crypto mixer that allows users to mask their digital trail on the ETH blockchain. According to the data, it takes the hackers about 5 hours to empty each wallet out of 100 ETH. Whoever the exploiter is, the quantity of ETH transferred is only increasing:

“The most baffling part of the whole situation to me is that 327 different wallets have actually sent this person small quantities of ETH in the hope he shares the wealth. I have never been so intrigued with a random person on the internet, This whole situation blows me away.”

The reddit user continued:

“I plan on continuing to track where all this ETH goes purely out of curiosity, the absolute magnitude of this exploit is too much for my little brain to comprehend.”

The Reddit post believes that the attack was carried out by one person who could be moving the funds slowly in order to avoid detection. According to the blog posts, the address was on a US watchlist before the exploit happened and was connected to North Korea however the Reddit user still believes that the attack was performed by 1 or 2 users.

Wallets that have sent ETH to the hacker

As recently reported, The $625 million exploits which were one of the biggest in the industry, were tied to the US security officials to North Korea’s Lazarus hacker group. Ronin Network the creators of the Axie Infinity bridge which saw the exploit, said that the FBI linked the Lazarus group breached the validator, and sanctioned the funds. The exploiters used the privacy tool Tornado Cash to convert the stolen funds to ether and other coins as reported.

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