Hackers from the Ronin Bridge Attack are carefully spreading out their stolen money in the crypto market. The market has been plagued recently by a number of drawbacks. One of the biggest problems faced by most companies is hacking and malicious attacks. Numerous companies reported getting hacked and had to stop their withdrawals for a significant amount of time. Apart from the fraudulent activities, the performance graphs of most of the companies have also dipped significantly.
The crypto market has not been in a good shape over the last couple of months. The market has constantly been experiencing a downward curve. Most of the companies incurred heavy losses. Even big names like Bitcoin and Ethereum had their prices go down by record numbers. Such statistics have sent a shockwave through all the investor’s spines. They have speculated that the future is very much dark for the crypto market as a whole. Some of the investors have also started a rumor that the days of cryptocurrency will be up soon.
They stated that people will soon be ditching digital assets and going back to the traditional mode of paper money transactions. Recent updates about the gang that hacked Ronin have been published. It is believed that they have transferred most of their stolen coins to the BTC funds. Let us learn more about the story in detail below.
Hackers Found Spreading Their Money On Bitcoin
Hackers that made a $625 million heist in the cryptocurrency market in the month of March have been found spreading their stolen money quietly. Their suspicious activity has been successfully tracked by an investigating company, named ₿liteZero.
It has been found that the hackers initially converted their money into ETH before transferring them to BTC. The money is said to be converted into BTC by using the Ren protocol.