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Ronin Network hacker moves over 25,000 ETH to Tornado Cash

TL;DR

TL;DR Breakdown:

  • Ronin Network hacker has moved another batch of stolen ETH to Tornado Cash.
  • The hacker currently has a balance of 147k ETH. 
  • Sky Mavis raised $150 million to refund affected users. 

The latest transaction on the wallet address involved in Ronin Network attack shows that the hacker has moved yet another set of stolen Ether (ETH) to Tornado Cash, a mixer protocol that obfuscates users’ blockchain footprints.

Ronin Network is an Ethereum-linked sidechain designed for Axie Infinity, which is one of the most popular blockchain games. Axie Infinity recorded more than eight million users in December and is currently on the top list of games by active users. 

3,300 ETH on the move

About 3,300 ETH, currently worth over $10 million, was moved from the hacker’s main address to Tornado Cash on Wednesday in a series of transactions carrying 100 ETH each.

This is not the first time the hacker moved the stolen cryptocurrencies to the mixer protocol. In fact, the wallet’s transaction history shows at least 25,000 ETH or $77.5 million has been cashed through Tornado Cash. 

Currently, the wallet address tagged “Ronin Bridge Exploiter” has a balance of 147,753 ETH. Up to 173,600 ETH and 25.5 million USDC were stolen from the Ronin Network in late March, marking the largest crypto hack in history. 

Sky Mavis committed to refunding Ronin Network users

Judging by the transactions made to Tornado Cash, one can easily say that the hacker probably doesn’t intend to return the funds to the network. However, the game developer behind Axie Infinity and Ronin Network, Sky Mavis, once assured that affected users would be reimbursed. 

Early this month, Sky Mavis raised $150 million from notable companies, part of which will be used to refund users. More recently, the team announced a $1 million bug bounty program to tighten the security of its services, including the blockchain game Axie Infinity and Ronin Network. 

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Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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