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Binance Seizes Millions of Dollars Related to Axie Infinity Hack

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Binance Seizes Millions of Dollars Related to Axie Infinity Hack

Changpeng Zhao (CZ), CEO of crypto exchange Binance, says his exchange has seized $5.8 million in connection with North Korean hackers, who last month stole 600 million USD from Axie Infinity.

After the theft, US authorities identified those behind the Axie Infinity hack as the Lazarus Group, an organization from North Korea.

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CZ said in a Twitter posts April 22 that Binance recovered $5.8 million from hackers when they transferred money to the exchange and spread the money to 86 accounts.

Recently, security firm PeckShield also reported that “The hackers of the $600 million Axie Infinity heist laundered 7.5% of the stolen funds through Tornado Cash.”

“It is possible that the hacker is looking to convert stolen assets to fiat via centralized exchanges like Binance,” PeckShield added.

Axie Infinity recently said that they are working closely with crypto exchanges to track stolen funds.

Earlier this month, Binance led a funding round $150 million with Sky Mavis, which aims to refund the victims affected by the hack.

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