Ronin Chain hacked for over $600 million, U.S. Treasury confirms it was orchestrated by North Korean hacker group Lazarus
The U.S. Department of the Treasury has announced an Ethereum address on the 14th, linking the North Korean cybercrime group Lazarus Group to the Ronin Chain hack last month that exceeded $600 million. Ronin Chain has been working with the U.S. government and blockchain security analysis company Chainalysis to identify that the perpetrators are from North Korea.
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The U.S. Department of the Treasury has added an Ethereum address (0x098B716B8Aaf21512996dC57EB0615e2383E2f96) to its sanctions list, confirming its connection to the hacker group Lazarus Group. It has been confirmed that this group was behind the Ronin Bridge hack on March 23, where 173,600 Ether and 25.5 million USDC were stolen, valued at approximately $625 million at the time, making it the largest hack in crypto history.
According to a report by Coindesk here, tracking company Elliptic estimates that as of the 14th, 14% of the stolen funds have been laundered.
The Ronin Network is a sidechain connected to the Ethereum blockchain created by Sky Mavis, the developer of the popular blockchain game Axie Infinity.
This article is authorized to be republished from Horizon News Network
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