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In what can be called a “small win”, the Binance cryptocurrency exchange has recovered a portion of the over $600 million stolen from the Ronin sidechain used by Axie More than a week after the U.S. tied one of the biggest heists in crypto to a North Korean hacking group, digital-asset exchange Binance said it was able to recover about Binance, through its CEO and Founder, Changpeng Zhao, has announced it has recovered $5.8 million (roughly Rs. 44.5 crore) worth of stolen funds originating from a Unfortunately, a vast majority of the stolen funds still remain in the hands of the hacker. Via a Twitter post on Friday, Changpeng Zhao, CEO of Binance, said that the Binance has recovered a reported $5.8 million so far. This is less than 1 percent of the total $600 million in crypto that hackers stole. The network reportedly found the Following a recovery effort, Binance has reclaimed a fraction of the stolen crypto funds which arose from the notorious Ronin Network attack. The DPRK hacking group

Binance Recovers Fraction of Stolen Crypto from Ronin Hackers

In what can be called a “small win”, the Binance cryptocurrency exchange has recovered a portion of the over $600 million stolen from the Ronin sidechain used by Axie Infinity. More than a week after the U.S. tied one of the biggest heists in crypto to a North Korean hacking group, digital-asset exchange Binance said it was able to recover about $5.8 million.

Binance, through its CEO and Founder, Changpeng Zhao, has announced it has recovered $5.8 million (roughly Rs. 44.5 crore) worth of stolen funds originating from the Ronin Network hack. Unfortunately, a vast majority of the stolen funds still remain in the hands of the hacker. Via a Twitter post on Friday, Changpeng Zhao said that the Binance has recovered a reported $5.8 million so far. This is less than 1 percent of the total $600 million in crypto that hackers stole. The network reportedly found the money when the DPRK hacking group attempted to move the funds through the exchange.

Following a recovery effort, Binance has reclaimed a fraction of the stolen crypto funds which arose from the notorious Ronin Network attack. While $5.8 million recovered is a significant achievement, it represents a small portion of the overall losses incurred. The hunt continues for the remaining stolen funds, and Binance is working with law enforcement and other exchanges to track and recover the assets.

Ronin Network Hack: A Blow to the Crypto Community

The Ronin Network attack served as a stark reminder of the vulnerabilities within the decentralized finance (DeFi) space. The theft of over $600 million in crypto highlighted the importance of robust security measures and constant vigilance. Binance's efforts to recover even a fraction of the stolen funds demonstrate their commitment to protecting their users and combating cybercrime in the crypto world.

Keywords:

Binance, Ronin Network, Axie Infinity, crypto hack, stolen crypto, cryptocurrency recovery, Changpeng Zhao, DPRK hacking group, North Korean hackers, $5.8 million recovered.

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