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The Ronin Hack Leads to a Massive Ethereum Transfer

An address linked to the Ronin Network attack has transferred 5,505.7 ETH ($11 million) according to Etherscan data.

The entire quantity of assets sent now stands at 23,525 ETH ($48 million).

The money in question was divided across seven separate transactions throughout the course of the previous week. To launder the stolen assets, the vast majority of the Ronin hacker’s funds were deposited to Tornado Cash, an Ethereum-based coin mixer.

In March, the gaming-focused Ronin network, which was built exclusively for Axie Infinity, was hacked for $625 million, making it one of the worst security breaches in decentralized finance and crypto history. The hackers made off with massive amounts of ETH and USDC tokens.

The large breach was eventually revealed to have been carried out by the Lazarus Group, one of the world’s most known hacker outfits, which is supposedly overseen by the North Korean government.

The makers of Axie Infinity stated in early April that they had raised $150 million to pay victims.

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