The stolen cryptocurrency was transferred by the hacker to many different addresses before being pushed to the FTX, Huobi and Binance exchanges but has been blocked.
According to the diagram shared by Peckshield, a blockchain data research company on Twitter, the hacker put most of the stolen cryptocurrency on exchanges after converting it to ETH. Total assets appropriated were 25.5 million USDC and 173,600 ETH from Ronin Network – Axie Infinity’s blockchain network.
Newly released data shows that the hacker transferred the ETH to 6 different accounts and then continued to split or transfer to several other accounts before ending the process by pushing to the exchanges. The amount of 25.5 million USDC was transferred to two different wallets and converted to ETH on the Multichain platform. Money transfer activities and wallet addresses are all saved by the system.
Two exchanges, Huobi and Binance, said they are monitoring the incident and working with Ronin Network and Axie Infinity to process transactions related to the hack. Amounts in transactions are also currently not withdrawable from the wallet.
According to a cybersecurity expert, in cryptocurrency thefts, hackers often use some tool to erase traces. However, in the case of Ronin Network, the “path” of the aforementioned assets was transferred directly to the wallets of the exchanges, not difficult for the companies to trace.
The recorded data shows that the attack happened on March 23. The development team just discovered after someone reported that they could not withdraw 5 thousand ETH from the system. Page CoinDesk Call it the biggest hack in DeFi history, with more money than the Poly Network hack last August, when hackers stole the same amount of cryptocurrency. 611 million USD before full return.
Ronin Network announced that it has stopped withdrawing and depositing funds into the network, and disabled the Ronin bridge with the Katana DEX. “We are working with law enforcement, cryptographic investigators and investors to ensure all funds are recovered or refunded. All AXS, RON and SLP on Ronin are safe,” Ronin Network announced.
Sky Mavis, the company behind Axie Infinity and Ronin, a company co-founded by engineer Nguyen Thanh Trung. By the end of 2021, this company is valued at 3 billion USD. Axie Infinity also the most famous blockchain game globally. At one time, the AXS coin of this game reached a market capitalization of more than 8 billion USD.
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