$7M Of Hacked Ronin Funds Are Being Sent To Tornado Cash

$7M of hacked Ronin funds are being sent to Tornado Cash crypto mixer following the recent $622 million attacks on Axie Infinity’s side chain Ronin as we reported in our latest cryptocurrency news.

Following the recent attack on the Ronin side chain, $7M of hacked Ronin funds is now on the move. The hacker that exploited the Ronin Bridge and drained $622 million from Axie Infinity developer Sky Mavis’ treasury, moved about $7 million of the funds today according to the data from Etherscan. The transaction history reveals that about twenty transfers were made to the Tornado Wallet over the past eight hours and each transfer sent over 100 ETH or $345,500 at today’s prices. The combined total of money moved to the mixer is 2000 ETH or $6.9 million.

Tornado Cash is a privacy tool that can obfuscate the source of crypto and acts as an intermediary thus breaking the on-chain link between the source of the funds and the destination. The only money left in the wallet is a little over 0.1 ETH. The Ronin Bridge exploit happened on March 23 but wasn’t discovered until March 29. the team said that it believes that hackers accessed the funds through hacked private keys.

After the discovery, the price of Axie Infinity’s AXS and SLP tokens dropped and now AXS is down by 4% over the past day and trades at $63.66. in the meantime, SLP is slowly rising today and increased by 17% trading at $0.026. The Theft also delayed the release of Axie Infinity Origin which is a huge update to the game and now Origin will be launched this week.
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Axie’s leader Jeff Jiho Zirlin, appeared on stage ad the NFTLA conference after learning about the attack and said his team is committed to continuing building before outlining this optimistic vision of the future of the project.

As recently reported, There has been some activity on the blockchain address which was flagged as being involved in the hack on the Axie Infinity Ronin Bridge a month ago and there were some transactions over the past few hours from the ETH Address. The first was the movement of 1000 ETH valued at $3.5 million to another address and a few more transactions followed with all of them going to Tornado Cash ETH mixing service. The movements were noticed by Colin Wu on Monday morning.