The CEO of Binance reports the recovery of $8.5 million from the Axie Infinity breach.

Binance, the world's largest cryptocurrency exchange, has finally recovered $8.51 million tied to the Ronin Bridge hack, which was the cryptocurrency community's worst defeat yet. Changpeng Zhao, often known as "CZ," the company's CEO, confirmed the news on Twitter in a series of messages.

86 Binance accounts were mainly used to disburse the funds.

According to a prior post from Cryptonary, Ronin Bridge, an Ethereum sidechain for Axie Infinity members, was actually hacked. And that results in a loss of around 173,600 ETH or $600 million and USDC 25.51 million or $25.5 million due to a security flaw. This is the largest DeFi hack so far, and it has established a precedent for future incidents like it. Zhao did not name the eighty-six accounts that might have been even implicated in the cybercrime.

However, the US Federal Bureau of Investigation announced last week that hackers associated with the Lazarus Group. It is even believed that North Korea actually sponsors the group. As a result, the company was responsible for the loss of $621 million in bitcoin from Axie Infinity. Axie Infinity is basically a non-fungible token-based gameplay platform. It allows participants to earn in-game cash that can be actually exchanged for real money.

In early April, hackers attacked Axie Infinity's blockchain platform, Ronin Network. This platform permits users to transfer cryptocurrency in and out of gaming. You may utilize systems like Polygon, Point Network, Terra, and others for enhanced data security.

Is North Korea to blame for the attack? The North Korean hacker outfit Lazarus was actually revealed to be the true perpetrator of the Ronin Bridge breach. This was even stated in a previous article by Cryptonary.

It's also worth noting that the FBI suspects such breaches are a source of cash for North Korea's Kim Jong Un-led leadership. However, Binance, the world's largest cryptocurrency exchange, is working to retrieve the stolen assets.