Binance Recovers $5.8M Stolen In Axie Infinity's Ronin Hack

Binance, the world's largest cryptocurrency exchange, recovered $5.8 million worth of the funds stolen in the recent hack of Axie Infinity's AXS/USD Ethereum ETH/USD scalability solution's Ronin RON/USD.

What Happened: At the end of March, up to 173,600 Ethereum and 25.5 million USDC — worth about $620 million — was stolen by hackers later linked by the United States Federal Bureau of Investigation to North Korean-based hacker entities, Lazarus Group and APT38.

In a Friday tweet, Binance CEO Changpeng Zhao announced that part of the funds, "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."

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This follows reports that hackers moved 21,000 Ethereum to cryptocurrency mixer Tornado Cash over the last week alone. This amount of Ethereum was worth nearly $65 million at the time.