Ronin Crypto Hackers Find New Mixer to Convert Stolen ETH to BTC

The hacking collective believed to be behind the $625-million Ronin bridge hack has transferred stolen ether into bitcoin using a cryptocurrency mixing service the US Treasury has not yet targeted, according to a new report. Lazarus Group, initially sanctioned by the Office of Foreign Assets Control (OFAC) in 2019. Hackers have more recently tapped ChipMixer, a mixer founded in 2017 that has yet to be added to OFAC’s blocked list, according to the report from blockchain security firm SlowMist. Lazarus Group converted 25.5 million USDC to ETH in March 2022.