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Binance recovered $5.8 million from recent Axie Infinity hack

Binance’s CEO said this morning that the company had recovered around $6 million as a result of the Ronin Network raid. These are the first funds to be transferred since the exploit was discovered a month ago.

On April 22, CZ said on Twitter that the hacker group responsible for the largest assault on DeFi had started relocating a portion of the stolen funds. The Bitcoin exchange Binance, which received a portion of the money and divided it among 86 accounts, banned them from accessing it and got the money back.

  • The CEO of Binance stated that his company had previously carried out a similar operation. In 2020, attackers used the Eterbase hack to transfer funds to the platform and some other cryptocurrency exchanges.
  • The Ronin Network, an EVM blockchain used for peer-to-peer gaming, was the target of the largest DeFi breach to date, according to CryptoPotato, which reported the incident in late March.
  • The criminals made off with 173,600 ETH and 25.5 million USDC, which was worth more than $600 million at the time.
  • The FBI eventually discovered that the vulnerability was the work of the Lazarus Outfit, a cyber group linked to North Korean intelligence.

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