The Cryptocurrency exchange has managed to recover $5.8M worth of the stolen funds from the Ronin Heist.
Binance Come Good
Binance was able to manage the partial recovery of funds stolen during the Ronin network security breach last March.
A total of 5.8 million US Dollars worth of funds were recovered after a series of transactions made its way through the cryptocurrency exchange’s network. Changpeng Zhao, CEO of Binance, announced the recovery last April 22 through his personal twitter account.
“The DPRK hacking group started to move their Axie Infinity stolen funds today,” CZ said in his tweet. “Part of it made [its way] to Binance, spread across over 86 accounts. $5.8M has been recovered. We [have] done this many times for other projects in the past too. Stay #SAFU.”
Authorities have earlier linked the digital heist to the Lazarus group, a cyber crime hacking unit run by the North Korean state. A total of 173,600 $ETH and 25,500,000 Million $USDC were stolen last March after a security breach on the Ronin network, an Ethereum sidechain developed by Axie Infinity creators, Sky Mavis, was exploited by hackers. The Axie Infinity team showed appreciation for the recovered funds through a tweet on the same day.
“Every cent recovered is a win for the @AxieInfinity community. Thanks @cz_binance. Funds will be put into the bridge once we are able,” the PlayAndEarn protocol gratefully announced while quoting CZ’s tweet.
Binance has been at the forefront in terms of supporting Axie Infinity since the heist happened. The Binance team was quick to lend a helping hand with the investigation, and even headlined an Axie Infinity fundraiser to help reimburse any community member whose funds got stolen.
Check out Ronin’s substack post, which the team regularly updates with new developments, for more details.
Source : bsc.news
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