Hackers Commence Movement of Nearly $7M Stolen From Axie Infinity’s Ronin Bridge Funds.
Malefactors are using Tornado Cash to disburse funds to avoid being tracked.
Hackers who perpetrated the massive hack on Ronin Bridge and stole a whopping $622 million from Sky Mavis, the developers of popular blockchain play-to-earn (P2E) game Axie Infinity, have started moving the funds.
Hackers Disbursing the Funds
The attackers have begun moving the funds to multiple addresses using sophisticated crypto analytics tracking software to avoid being tracked by authorities.
For now, the hackers have moved 2,018 ETH out of the $622 million stolen to an unknown wallet address. According to Etherscan data, hackers behind the Ronin Network attack recently transferred 2,018 ETH to a new address (0x429a66e7bD829F9453CEE5239Bfeaf5657A11A3e).
According to recent data on Etherscan, the attackers transferred almost all the 2,018 ETH to a Tornado Cash router. Of the 2,018 ETH sent to the unknown address, nearly all the funds have been moved to Tornado Cash.
The malefactors transferred 100 ETH each in multiple transactions totaling 18 to the Tornado Cash Router wallet.
The entire 2,018 ETH has been disbursed to the Tornado address, worth around $6.5 million. The only funds left in the wallet are $0.10 worth around $350 at writing.
Tornado Cash features a privacy tool that can hide the origin of a cryptocurrency transaction.
The Tornado Cash solution breaks the on-chain link transactions between the destination and the source addresses, a medium that has received widespread adoption from criminals who are looking to avoid being tracked after perpetrating massive heists.
About the Ronin Bridge Attack
It is worth noting that the massive attack was carried out on March 23, 2022, but somehow, it was not discovered until March 29, 2022.
While explaining what led to the crypto heist, Ronin’s team noted that the attackers may have gained access to the funds through hacked private keys.
Upon announcing the hack, the price of Axie Infinity’s game tokens AXS and SLP dipped 4% and 17%, respectively. As a result of the theft, Axie Infinity’s proposed game update Origin was postponed to this week.
Meanwhile, Sky Mavis announced recently that it had raised $150 million to compensate victims affected by the Ronin heist.