Ronin Network hackers have cashed over 28k Ether (ETH)

Biggest hacks of this week - 15th August

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TL; DR Breakdown

  • Ronin Network was hacked in March 2022 and over $615 million worth of ETH stolen
  • The hackers have cashed in over 28,000 ETH so far.

Over a month ago, hackers exploited the Ronin Network, the sidechain created to scale Axie Infinity, and stole over $615 million worth of ETH.

The hackers has cashed in about 28,164 ETH of the 173,000 ETH that vanished during the Ronin incident, with a current market value of million.

Two weeks ago, they were able to withdraw 2000 ETH (roughly $6 million), which is the same amount as their previous withdrawal from Ethereum mixer protocol, Tornado Cash.

Reddit has made a list of ongoing transactions involving the wallets that were exploited.

Ronin network hackers use more than one wallet

Since the Ronin Bridge was destroyed, ThatGuy222666 has been monitoring the main wallet. It appears that the attackers are using several wallets to deposit ETH into Tornado Cash, which enables users to hide their digital footprints on the Ethereum blockchain.

According to the pictures posted, it took 4-6 hours for the hackers to empty each new wallet 100 ETH without knowing who the exploiter is. The amount of Ethereum transferred has been steadily rising.

The most perplexing aspect of the entire situation to me is that 327 distinct wallets have already sent this person tiny amounts of ETH in the hope he’d share the wealth.

The Reddit user.

That Guy222666 went on to comment that he has never been so interested in a random person on the internet, and that entire situation had him stumped.

I’m going to keep track of where all this ETH goes just for fun because the overall scale of this hack is too much for my little mind to comprehend.

The Reddit user added.

He further explained that hackers were moving the funds slowly to avoid being discovered. However, the FBI recently uncovered that North Korea’s infamous Lazarus Group were responsible for the attack.

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Dennis Mugambi

Dennis is a content writer with a deep understanding of the blockchain domain and cryptocurrency field. He infuses cold data with flair to make technology and finances mind-blowing. His reports both fascinate and awaken the readers.

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