The seizures represent approximately 10% of the total funds stolen from Axie Infinity.
Chainalysis explains that in response, Lazarus Group hackers switched to, perhaps ironically, laundering the stolen crypto via cross-chain bridges on legitimate decentralized finance platforms."With Chainalysis tools, these cross-chain funds movements are easily traced," the firm wrote, pointing to one transaction where hacked funds were bridged to the BNB Chain from Ethereum, then swapped for Tron's stablecoin USDD, and then finally bridged to the BitTorrent blockchain.
North-Korea-backed Lazarus Group first exploited five of the nine private keys held by transaction validators for Ronin Network's cross-chain bridge. After gaining a majority consensus, they approved two transactions for transferring 173,600 ETH and 25 million USD Coin from Ronin Bridge, draining it of assets.
Since then, Binance has managed to recover $5.8 million in funds related to the Ronin exploit. Just four months later, Ronin developers announced that
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Korea proposes meeting with North on family reunionsFamily reunions are a highly emotional humanitarian issue: they involve people in their 80s and older who are desperate to see their long-lost relatives before they die.
Read more »
US Intel Suggests Russia Plans to Buy Millions of Rockets from North KoreaRussia is reportedly looking to bolster its Ukraine war arsenal with the help of North Korea. See the potential bias and similarities in coverage from ap, dailycaller and reuters:
Read more »
Once-mighty arms exporter, Russian military cuts deal to buy from Iran, North KoreaThe Soviet Union churned out vast quantities of military hardware for its Warsaw Pact allies and post-Cold War Russia remained one of the world’s top arms exporters, but now the Kremlin is forced to look to rogue states, including North Korea and Iran, for help to resupply its strapped forces in the troubled 6-month-old invasion of neighboring Ukraine.
Read more »
US: Russia to buy millions of rockets, artillery shells from North Korea'It does demonstrate and is indicative of the situation that Russia finds itself in, in terms of its logistics and sustainment capabilities as it relates to Ukraine,' says Pentagon press secretary.
Read more »
North Korea 'always welcome' at negotiating table, Japan nuclear envoy saysNorth Korea is 'always welcome' at the negotiating table even though the threat of further provocation may be looming, Japan's nuclear envoy, Takehiro Funakoshi, said on Wednesday ahead of a meeting with his U.S. and South Korean counterparts.
Read more »