Ronin Network, a critical bridge chain that powers Axie Infinity, was attacked, and this resulted in in a loss of 173,600 Ethereum and 25.5M USDC, equivalent to over $600M. Since the breach occurred on March 23rd, the stolen funds have flowed into FTX, Huobi, and CryptoCom, which have all vowed to take actions to trace the funds.
Binance said it had temporarily suspended withdrawals and deposits on the Ronin Network.
Sky Mavis, the company behind Axie Infinity, said it would compensate online participants who lost funds during the attack against Ronin’s systems.
Stolen Funds Mostly Remain Unmoved
According to the analysis conducted by PeckShield Inc, a blockchain security and data analytics company, the hacker’s main address “0x098B716B8Aaf21512996dC57EB0615e2383E2f96” contained a negligent amount of ETH. That acted as the fee for its later transactions to multiple wallets on centralized exchanges.
Later, the attacker transferred the funds to multiple unknown wallets. They used
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