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Benzinga

Business

Murtuza Merchant

THE TRUTH ABOUT: Ronin bridge hackers converted most loot into bitcoin report | History Defined

Bitcoin Ronin Crypto Ethereum Blender US Treasury

The hackers who stole $625 million in Ethereum (CRYPTO: ETH) and USD Coin (CRYPTO: USDC) from Axie Infinity's Ronin bridge in March this year have converted the majority of their holdings into Bitcoin (CRYPTO: BTC) using renBTC and privacy tools like Blender, ChipMixer and TornadoCash, according to a report.

According to a report released by blockchain security firm SlowMist, a majority portion of the stolen funds was first converted into Ethereum and sent to the Ethereum crypto mixer Tornado Cash, now sanctioned by the U.S. Treasury, before being transferred to the Bitcoin network and converted into Bitcoin via the Ren protocol.

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