Binance Recovers Some Of The Money Linked To North Korea-Orchestrated Axie Infinity Hack
Binance managed to recover some of the money stolen by North Korea from Axie Infinity
Changpeng Zhao, chief executive office of cryptocurrency exchange Binance, has taken to Twitter to to announce that the leading trading platform had recovered $5.8 million worth of crypto stolen from the play-to-earn blockchain Axie Infinity by North Korea.
Zhao claims that the entire amount is divided between a total of 86 different accounts.
As reported by U.Today, the Ronin Bridge, an Ethereum sidechain powering Axie Infinity, announced that it had suffered one of the largest crypto heists, earning the attackers approximately $625 million.
On April 14, the US government announced that Lazarus Group, the infamous cybercrime linked to North Korea’s spy agency, was responsible for the massive Ronin hack.
Earlier this week, several US government agencies issued a warning to cryptocurrency and blockchain-related companies regarding threats from North Korea. Aside from Lazarus, several other hacking groups are believed to be backed by the authoritarian dictatorship. Stock exchanges, trading companies, games and individual investors are all being targeted by the rogue state.
North Korea is using the stolen money to sponsor the development of nuclear weapons and intercontinental missiles.
In 2021, the “hermit kingdom” stole $400 worth of cryptocurrencies after a series of successful cyber attacks. North Korean-backed hackers usually rely on decentralized financial mixers to launder stolen money.