Crypto News

Binance Exchange Seized $5.8M From Axie Infinity Hacker


The chief executive officer of Binance exchange confirmed a small success against the funds stolen in the Ronin Bridge attack. 

On 23 March a group of hackers stole around $550M from Axie Infinity ‘ Ronin Bridge. Reportedly, Lazarus Group of North Korea was behind this attack and theft. The whole incident included a loss of around 173,600 ETH and  25 million in USDC stable coins. A link has been found between this attack and the North Korean cybercrime syndicate Lazarus Group, under investigation by the US Office of Foreign Assets Control. 

On 22 April, Changpeng Zhao, CEO of Binance exchange, informed his followers about the success of the Binance exchange to seize around $5.8 million worth of Crypto assets stolen from the Ronin Bridge.

According to the tweet of Zhao, hacker group started to transfer funds with the help of different platforms and 86 accounts in the Binance exchange were used. 

However, this seized funds amount is not much big success against the actual hack funds but still, this will further help Axie Infinity and its Ronin Bridge creator to trace the hackers. 

This is not the first time Binance contributed against such illegal activities but also earlier in the past the analytic team of Binance exchange helped the US government agencies against crypto-associated illicit activities and bad actors. 

Binance exchange currently standing at the first rank in the crypto industry because of its operations in multiple Crypto-related development works. On one side Binance expands works on education and awareness of crypto & blockchain technology, on the other hand, the exchange works to keep bad actors away from this industry and also to help investigation agencies to keep the crypto ecosystem safe and clean. 

Read also: Bitcoin plunges to $39K because of Ukraine’s ban on crypto buy





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