15% of Tornado Deposits Are From Ronin Exploiter: Data

15% of Tornado Deposits Are From Ronin Exploiter: Data

The exploiters behind Ronin’s massive $625 million bridging attack have successfully moved thousands of ETH to privacy tool Tornado Cash. A month later, considered by many to be the biggest exploit in DeFi history, on-chain data showed that 15% of Tornado deposits came from Ronin attackers.

This was revealed by Alex Svanevik, CEO of blockchain analytics platform Nansen.

On March 23, the Ronin network, the Axie Infinity game-money game platform, suffered an unprecedented attack that resulted in losses of more than $625 million in USDC and Ethereum (ETH). Over the past week, activity from the attacker’s main address on Etherscan, flagged as Ronin Bridge Exploiter, has shown a continued movement of ether to different addresses. The transaction history shows that 20 transfers were made to the same Tornado wallet, each over 100 ETH. Earlier this week, the FBI revealed that the “Lazarus Group” linked to the Democratic People’s Republic of Korea (DPRK) was behind the attack. The notorious group of hackers was subsequently sanctioned by the Treasury Department. The “Lazarus Group” is known to use Pyongyang’s illicit income to finance the totalitarian state’s nuclear and ballistic missile programs, the report said. Tornado Cash, which provides transaction privacy by breaking the on-chain link between source and destination addresses, has again come under fire for helping many exploiters hide their addresses while withdrawing fraudulently obtained funds. Tansen CEO conducted a poll on Twitter and asked community members,

“Sensitive topic, but curious about what people are thinking: How much money must come from known exploits/hacks/scams to stop using Tornado?”

Following the attack, Tornado Cash banned state-sponsored North Korean hacking groups from using its hybrid services. It said earlier that while “maintaining financial privacy is essential to safeguarding our freedom”, breaches should not come at the cost.

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