Stealing of $625 Million by Hackers

Ronin network, an Ethereum-compatible blockchain tailored for the popular play-to-earn game Axie Infinity lost its worth $625 million cryptocurrency- reported by the U.S Treasury Department. Also, says, the famous hacking group alias the Lazarus is behind the heist.

According to the ronin network, The hackers infiltrated the network and managed to steal about  173,600 ether and 25.5 million USDC.

The Lazarus operated for more than a decade and some intel says, the North Korean has support it, which hacked Sony Pictures in 2014 and penetrated the Central bank of Bangladesh by losing them $81 million. Moreover, cyber security companies like Kaspersky and Symantec have also linked them to a threat like wanna cry ransomware which affected more than 200,000 computers in 150 countries with an estimated loss of $4 billion in May 2017.

The hackers have been targeting crypto entities since 2018, laundering digital currency worth $200 million every year, according to Elliptic and another blockchain intelligence firm Chainalysis.



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