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Binance Recovers $5.8M From Axie Infinity Hack



 As Binance CEO Changpeng Zhao reported on Friday , the market-leading crypto exchange was able to recover almost $5.8 million from Axie Infinity's Ronin Bridge hack . The stolen funds were split among more than 86 accounts on Binance by the Lazarus Group hackers.


In March, the North Korean hacker collective stole 173,600 ether ( ETH ) and 25.5 million USD coin ( USDC ) at a converted market value of over 600 million US dollars from Ronin Brige, which belongs to the blockchain game Axie Infinity.


As of today , there are still $180 million in crypto assets in one of the wallets used by the hackers. In turn, blockchain security firm Elliptic revealed that the hackers deposited most of the funds on centralized crypto exchange and decentralized crypto mixer Tornado Cash. Some stolen USDC have also been converted to Ethereum via decentralized crypto exchanges.


Worried about possible money laundering, decentralized crypto exchange (DEX) Uniswap has therefore scanned all addresses that may be linked to the movement of "hacked or stolen funds".


Tornado Cash, in partnership with crypto data service Chainalysis, has now also begun banning wallets with what appears to be illegal activity.


However, as founder Roman Semenov explains , this screening only blocks certain addresses from accessing the associated DApp, it does not prevent money movements on the underlying smart contracts.


Despite the massive hacker attack, Sky Mavis, the development studio behind Axie Infinity, recently raised $150 million in investment capital as part of a new round of financing. Some of these funds have already been used to pay damages to affected users.

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