Technology

Ronin Hackers Have Moved The Stolen $625M to Bitcoin Network: Report

Ronin hackers have transferred the stolen assets from Ethereum to the Bitcoin network, according to new findings by blockchain investigator and developer ₿liteZero. Recall that after the Ronin bridge hack in March, the attackers moved the $625 million worth of USDC and ETH to Ethereum-based crypto mixer Tornado Cash, making it difficult for authorities to trace the movement of the funds. But Tornado wasn’t the end as the hackers took further steps in obscuring the transactions. ₿liteZero said he has been tracking the stolen funds and noticed that the attackers had transferred all the assets to the Bitcoin protocol using a network bridge and several crypto exchanges. The blockchain investigator found that after the hackers withdrew the funds from Tornado Cash, they sent about 6,250 ETH ($20.7 million) to centralized exchanges (CEXs) such as Binance, Huobi, and FTX before sending the funds to North Korean crypto mixer Blender. In May, the United States Treasury Department sanctioned Blender addresses, noting that the crypto mixer assisted the Ronin hackers in processing over $20.5 million of the stolen funds.

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