Sanctions of the US Ministry of Finance ETH Address to Axie Infinity $ 600m Hack involved
Sanctions of the US Ministry of Finance ETH Address to Axie Infinity $ 600m Hack involved
- The US Finance Ministry has sanctioned an Ethereum address that is connected to the Ronin-validator hack from Axie Infinity.
- Everyone who interacts with the address, risked to be sanctioned himself, warns a spokesman for the Ministry.
On Thursday, the US Ministry of Finance approved the address of Ethereum (ETH), which is connected to the over $ 600 million attack on Axie Infinity. For the first time in the history of America, a crypto address was added to the list of sanctions.
It is noteworthy that the crypto industry has been plagued since its beginnings of cyber attacks and theft. However, the March Axie Infinity compromising her Ronin Bridge is now one of the largest cryptodie stories. The attack, which has been slowly orchestrated since the end of last year, led to the loss of over 170,000 ETH and 25.5 million USD coin (USDC).
The US Ministry of finance put the address on the black list because it linked it to which it linked lazarus-group . The latter is a notorious hacker group in North Korea, which happens to be on the US list of sanctioned groups. The pile was accused of having brought stolen crypto -strained to North Korea that used it to finance its rocket programs - the reason why the nation is also sanctioned by the USA.
The US Ministry of Finance puts an address on a black list that is connected to the Axie Infinity attack
In the announcement, the ministry did not expressly mentioned the Ronin bridge. However, several blockchain analysis companies have confirmed that the Axie Infinity-Sidechain has connections to the blocked Ethereum address. One of these companies, Elliptic, says that the hackers have already managed to wash an estimated 14 percent of the stolen funds.
From now on everyone who interacts with the blocked Ethereum address risks to be sanctioned. The Ministry of Finance has warned. With the words of a speaker:
The identification of the wallet will make it clear to other VC players that they risk being exposed to US sanctions by transactions.
Additional:
This shows the commitment of the Ministry of Finance to use all available authorities in order to disrupt malicious cyber actors and to block illegal criminals.
damage to the damage
Meanwhile, the developers of Axie Infinity are working on additional security systems to minimize the repetition of such an event. The attack was a heavy blow to the Pay-to-Eearn platform, especially since it was the most popular of its kind. With 2.5 million active users a day, Axie Infinity was a much-noticed platform when it came to blockchain games.
Apart from the update of the security systems, Sky Mavis announced a fundraiser of $ 150 million a week ago. The Vietnamese game studio plans to use the money to compensate for the victims of the youngest hack. Both efforts focus on restoring users' trust in the mother of the P2E gaming platforms.
"We are still adding additional security measures before using the Ronin Bridge to reduce future risks," says a blog post from the Ronin network. The network is now planning to provide the updated bridge until the end of this month.
Source: Crypto-news-flash.com
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