Hacker on the Axie Infinity Ronin Bridge Starts Shifting Looted ETH

The hacker who made $601 million off of the Axie Infinity Ronin Bridge exploit has begun redistributing the funds.

According to Etherscan transaction data, the hacker carried out 24 transactions. The hacker also transferred 1,000 ETH to another address and 200 ETH to TornadoCash, according to the Wu Blockchain.

The balance of this wallet, which goes by the name Ronin Bridge Exploiter 8, is currently 0.109 ETH, which is only worth $376.

The exploit resulted in the theft of 173,600 Ethereum and 25.5 million USDC stablecoins by an unknown hacker. Meanwhile, another wallet with the name Ronin Bridge Exploiter has 173,912.76 ETH in it.

To obscure their digital footprint while moving their loot, hackers have turned to crypto mixers. While centralized exchanges were once heavily used to convert crypto riches into currency, Chainalysis stated earlier this year that this has altered since 2018.

Chainalysis claimed that the hacker had also delivered the stolen cash to Tornado Cash, an Ethereum blockchain mixer, citing the Spartan Protocol compromise in May 2021.

Tornado Cash breaks the on-chain link between source and destination addresses, allowing for private and anonymous transactions for Ethereum and ERC-20 tokens.

The Ronin Bridge allows for cross-chain transfers between Sky Mavis' Axie Infinity network and other blockchains. The Ronin Network attack has now surpassed the Poly Network attack from August 2021 as one of the largest DeFi breaches.

The COO of Axie is "dedicated to reimbursing" players

Sky Mavis' COO Aleksander Leonard Larsen, on the other hand, was quick to stress that the company is "totally committed to reimbursing" the players who have lost money as a result of the breach.

He also resorted to Twitter to say that additional information about his recuperation and reimbursement will be released "shortly."