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Market News

Nearly $10M Fund of Ronin Network Hack Moved Out

The perpetrator snatched around 5000 ETH from the linked address to the new address and sent it to Tornado Cash in the batches of 100 ETH.

Written By Rajpalsinh
Published May 18, 2022 12:44 PM
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Nearly $10M Fund of Ronin Network Hack Moved Out

The movement on the crypto addresses linked to Ronin Bridge’s $625 million have been identified as $10 million worth of Ether were transferred to another address. 

The address named Ronin exploiter where the entire stolen fund was locked has made a transfer of 5,505 ETH on a new address. 

To disrupt the transaction’s trace, the perpetrator has sent this Ether from the new address to Tornado Cash in the batches of 100 ETH. As per the Etherscan data, over 55 transactions were made with Tornado Cash.

At the time of writing the wallet contains 3.45 ETH, whose total valuation is around $7,006.52.

Also Read: Ronin Network Gets Hacked Making it the ‘Largest Crypto Hack’ in History

Tornado Cash is a defi protocol that allows users to camouflage their transaction after transferring into it. To make this done, the protocol breaks the on-chain link between a source and a destination address.

This is not the first time when the Ronin Exploiter showed a moment as last month, On-chain data linked to addresses used in the exploitation shows that the attacker moved around 1,400 Ether to Tornado Cash. This kind of transaction intensified after that. Since then, nearly 21,000 Ether have been transferred to Tornado.

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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