The U.S. Treasury Department on Thursday added a new Ethereum address to its sanction list, while blockchain researchers said the address was likely behind...
The U.S. Treasury Department on Thursday added a new Ethereum address to its sanction list and linked it to North Korean hackers known as the Lazarus Group. Blockchain researchers said the address was likely behind the March hack of Ronin Bridge, a blockchain network connected to the popular play-to-earn game Axie Infinity, where more than $600 million worth of cryptocurrencies were stolen.
The address received 173,600 ether ETHUSD and 25.5 million exploited from the Ronin attack, according to several blockchain analytics providers. Ronin Network provides a bridge that allows transfer of tokens between Ethereum and Axie Infinity. In the Ronin hack, all evidence pointed to the attack being socially engineered, rather than conducted through the exploitation of a technical flaw, according to a March 30 blog post by Ronin Network. Ronin is secured by nine validator nodes, while five were hacked to attack the network, according to the post.
The Ronin hack followed the same pattern. As of Thursday, the hackers had laundered 18% of the stolen funds, according to blockchain analysis provider Elliptic.
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