Hacker Ronin Transfers Stolen Crypto From Ethereum To The Bitcoin Network, According To New Data Found By Reviewers And Blockchain Developer ₿liteZero & Walletblacklist.
After the Ronin hack in March The hackers also transferred $625 million in USDC and ETH to Tornado Cash on the Ethereum Blockchain, making it more difficult for authorities to track the hackers’ transfer.
It appears Tornado Cash is not the only destination for hackers. Recently, hackers have bridged the stolen assets. to the Bitcoin network and many other crypto exchanges.
By bridging across the hacker’s network We will notice that The hackers transferred all of their funds to the bitcoin network, with most of the funds being deposited into popular Crypto Mixer platforms such as ChipMixer, Blender.
Blockchain investigators found After the hackers withdrew from Tornado Cash, they transferred approximately 6,250 ETH ($20.7 million) to centralized exchanges (CEXs) such as Binance, Huobi, and FTX before sending the funds to the Crypto Mixer platform. North Korea’s ‘Blender’
On May US Treasury has announced a boycott of Blender, arguing that the platform Contributed to Hacker Ronin in Laundering Over $20.5 Million worth of Stolen Crypto Coins.
Interestingly, ₿liteZero also states that most of the sanctioned Blender wallets were used by Ronin hackers to receive funds after withdrawing from CEX and after receiving funds. The auditor noted that Total funds withdrawn from the exchange amounted to $20.72 million, in line with the US Treasury Department’s allegations.
Hackers have converted the rest of their assets to renBTC through Uniswap’s platform. For those who don’t know renBTC, it wraps Bitcoin on the Ethereum network powered by the Ren Protocol so it can be used to transfer funds between blockchains. This way, hackers can link assets from Ethereum to the Bitcoin network.
After that, the hackers sent most of their funds to crypto mixer platforms such as ChipMixer and Blender, where they first transferred the funds to ChipMixer and later withdrew some to Blender.
Wrapping up the full story on Twitter, ₿liteZero said they were closely monitoring the hackers’ transaction paths. and believe that this will become even more complicated in the future.
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