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Ronin Network’s native token RON recorded 5x gains since the start of the year thanks to its plans to shift to a Delegated Proof-of-Stake (DPoS) consensus mechanism and expand its gaming portfolio beyond Axie Infinity.The gaming-focused layer-2 Ethereum blockchain will change its current Proof-of-Authority to the DPoS consensus mechanism on
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According to a press release published on Feb. 16 by Norway's National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim), authorities have seized 60 million Norwegian Kroner ($5.85 million) in stolen cryptocurrencies linked to the Axie Infinity Ronin Bridge hack last March. According to senior public prosecutor
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While some are unable to recover from hacking incidents and have to throw in the towel, others are able to pick up the pieces, learn from their shortcomings and go at it for another round. In an announcement sent to Cryptox, Axie Infinity creators Sky Mavis said that it had teamed
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On Thursday, blockchain forensics firm Chainalysis said that law enforcement had recovered $30 million in crypto stolen from the $625 million Ronin Bridge hack in March. According to Chainalysis, Lazarus Group, the North-Korea linked entity behind the attacks, first used sophisticated money-laundering techniques such as sending stolen Ether (ETH) to
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Meanwhile, the researcher added that over 113,000 ether sent to Tornado Cash was additionally converted to renBTC, a token on the Ethereum network that represents bitcoin, through decentralized exchanges Uniswap and 1inch. The renBTC was later transferred from Ethereum to Bitcoin and redeemed for spot bitcoin. Source
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The hackers behind the $625 million Ronin bridge attack in March have since transferred most of their funds from ETH into BTC using renBTC and Bitcoin privacy tools Blender and ChipMixer. The hacker’s activity has been tracked by on-chain investigator ‘₿liteZero’, who works for SlowMist and contributed to the company’s 2022
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The latest report on the Axie Infinity/ Ronin bridge hack is too good to be true. Especially considering the FBI claims a North Korea-sponsored hacking group is responsible for it. “A senior engineer at Axie Infinity was duped into applying for a job at a company that, in reality, did
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Welcome to Finance Redefined, your weekly dose of key decentralized finance (DeFi) insights, a newsletter crafted to bring you some of the major developments over the last week.This past week, the DeFi ecosystem saw Axie Infinity’s Ronin bridge relaunch with a fully backed 1:1 Ether (ETH) nearly three months after
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The March exploit affected Ronin validator nodes for Sky Mavis, the publisher of the popular Axie Infinity game, and the Axie DAO, with attackers stealing some 173,600 ether (ETH) and 25.5 million in USDC. An attacker “used hacked private keys in order to forge fake withdrawals” from the Ronin bridge
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