Changpeng Zhao, the CEO of crypto exchange Binance, said on Twitter that the top trading platform has recovered $5.8 million from the epic $625 million Axie Infinity heist. The heist was carried out by the Lazarus Group with North Korea’s secret service. Zhao alleges that the funds were distributed over 86 separate accounts.
The DPRK hacking group started to move their Axie Infinity stolen funds today. Part of it made to Binance, spread across over 86 accounts. $5.8M has been recovered. We done this many times for other projects in the past too. Stay #SAFU.
— CZ 🔶 Binance (@cz_binance) April 22, 2022
The Ronin Bridge, an Ethereum sidechain that powers Axie Infinity, stated that it has been the victim of one of the largest crypto heists ever, with the perpetrators making off with $625 million. As previously reported, the hackers utilised the anonymity tool Tornado Cash to transfer stolen cash to ether and other cryptocurrencies. Several thousand ether (ETH) have been transferred in the last few days from the hacker’s primary address, which has been dubbed the Ronin Bridge Exploiter on the tracking site Etherscan.
On April 14, the US authorities stated that the huge Ronin attack was carried out by the Lazarus Group, a prominent cybercrime organisation affiliated with North Korea’s secret service.
The cash is being used by North Korea to support the development of nuclear weapons and intercontinental missiles. After a series of successful hacks in 2021, the “hermit kingdom” seized $400 worth of bitcoin. Hackers supported by North Korea frequently use decentralised finance mixers to launder stolen assets.
In response to North Korean threats, several US government organisations issued a warning to crypto and blockchain-related firms earlier this week. Apart from Lazarus, the totalitarian regime is said to support a number of other hacking organisations. The rogue state has its sights set on exchanges, trading businesses, games, and individual investors.