Threat Management, Threat Management

Binance recovers $5.8M stolen from Axie Infinity hack

Binance has announced that it was able to retrieve and freeze $5.8 million in cryptocurrency stolen from Axie Infinity's Ronin Network last month, reports The Record, a news site by cybersecurity firm Recorded Future. North Korean state-sponsored advanced persistent threat group Lazarus has been suspected by the U.S. Treasury's Office of Foreign Assets Control to be behind the attack, which has resulted in the theft of over $540 million in Ethereum and USDC last month. "The DPRK hacking group started to move their Axie Infinity stolen funds today. Part of it made to Binance, spread across over 86 accounts/ $5.8M has been recovered. We done this many times for other projects in the past too," said Binance CEO Changpeng Zhao in a tweet on Friday. Nearly 3,000 ETH, or over $9 million, have been transferred by Lazarus to cryptocurrency mixer Tornado Cash during the last two weeks, with nearly 7.5% of stolen funds already laundered by April 9, according to PeckShield.

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