US government links $622 million stolen from Axie Infinity to more Ethereum wallets 

U.S. Treasury Department officials have tied North Korean hacking group Lazarus to an Ethereum wallet used in the $622 million Ronin Network exploit, a sidechain created for play-to-earn game Axie Infinity.

Now, three more wallet addresses have been identified by the U.S Treasury Department as being associated with the attack.

The Treasury’s Office of Foreign Asset Control (OFAC) has just added wallets associated with Lazarus to its list of sanctions. A significant amount of stolen funds has been sent to all three wallets in the past week from the original wallet linked to the Ronin attack.

What you should know

  • Last week, Tornado Cash, a service that makes it more difficult to trace cryptocurrency movements between wallets, announced it would automatically block wallet addresses found on OFAC’s sanctions list.
  • About $622 million worth of ETH and USDC stablecoin were stolen from the Ronin Network bridge in late March.
  • An attacker exploited the bridge by using hacked private keys to sign fraudulent transactions, according to Axie Infinity developer Sky Mavis.
  • The company has raised $150 million in new funding from investors to assist in either recovering or reimbursing the stolen funds. In addition to Binance, Animoca Brands, Andreessen Horowitz, and Paradigm participated in the round.
  • CZ Zhao, the CEO of Binance, tweeted recently that the cryptocurrency exchange had recovered $5.8 million from the attacker’s wallet. 86 Binance accounts were involved in the theft, Zhao said.

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