Binance Seizes $5.8M in Crypto Assets Related to Ronin Hack

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Binance Seizes $5.8M in Crypto Assets Related to Ronin Hack

Bitcoin exchange Binance returns some of the assets stolen by hackers Axie Infinity in the amount of $5.8 million, CEO Changpeng Zhao said.

On March 23, unknown persons hacked the Ronin Ethereum sidechain and withdrew approximately $625 million in ETH and USDC. The incident became known six days later, and experts noted that part of the funds was sent to centralized exchanges.

On Binance, hackers distributed assets across 86 accounts, Zhao said.

“$5.8 million was returned. We have done this many times before for other projects,” he said.

The head of Binance confirmed that a hacker group from North Korea is behind the hack.

In April, US authorities linked an Ethereum address to stolen funds. with the Lazarus groupwhich allegedly acts in the interests of the DPRK.

Recall that this association of hackers is involved in $280 million KuCoin hack in 2021. Cumulative damage to crypto projects from attacks by North Korean hackers per year reached $400 million.

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