Binance recovers $5.8M in funds connected to Ronin bridge exploit

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Binance recovers $5.8M in funds connected to Ronin bridge exploit
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After the infamous hack of $600 million on AxieInfinity by criminal gang Lazarus Group, the crypto community got to work on identifying accounts that could hide illicit activity.

associated

with the Ronin has around $280 million in digital assets remaining. Blockchain forensics company Elliptic recently uncovered that the hackers have been sending the money to centralized exchanges and cryptocurrency trail-mixer decentralized application, or DApp, Tornado Cash. In addition, it appears the hackers alsoPossibly in response to alleged acts of money laundering, Uniswap DEX

it was screening addresses that might be associated with moving"hacked or stolen funds" based on intelligence provided by TRM Labs. Similarly, via Chainalysis, Tornado Cash is blocking wallets linked to illicit activity from accessing its DApp.only blocks users from accessing its DApp user interface and does not prevent the movement of funds into its underlying smart contract.led by Binance. The funds will partly be used to reimburse investors who suffered losses in the exploit. In addition, the remaining amounts will be compensated via Sky Mavis' own money.

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