Binance Recovers $5.8 Million Stolen in Ronin Attack

Binance’s CEO Changpeng Zhao recently announced that his exchange managed to recover $5.8 million stolen from Axie Infinity’s Ronin Bridge. It’s now known that the infamous Lazarus Group from North Korea was behind this cyber attack.

DPRK Hacking Group Moved Their Axie Infinity Stolen Funds

Based on the latest CZ’s tweet, the hacking group started moving the Axie stolen funds around, and part of it was moved to the Binance exchange. The money was spread across 86 Binance accounts with the intention to launder it. This helped Binance recover $5.8 million.

CZ called his followers to remain SAFU and noted that this is not the first time Binance has managed to retrieve the stolen funds for its users.

The Ronin hack that occurred on March 23 cost Sky Mavis, Axie Infinity creator, 173,600 ETH and more than $25 million in USDC. The combined value of the hack reached more than $550 million.

Even the US Office of Foreign Assets Control got involved, identified the wallets used in the hack, and discovered that they belong to the North Korean cybercrime syndicate Lazarus Group.

The Lazarus Group also targeted DeFiance Capital, where it conducted a phishing attack, stealing $1.7 million worth of NFTs.