Binance Seized $5.8 Million From a North Korean Network, Says CEO

On Friday, Binance CEO Changpeng Zhao informed on Twitter that the biggest cryptocurrency exchange around the globe, Binance, has recovered nearly $6 million from a North Korean group suspected to be behind a $620 million hack of the popular play-to-earn game Axie Infinity. While referring to the Democratic People's Republic of Korea, Changpeng Zhao said, "The DPRK hacking group started to move their Axie Infinity stolen funds today. Part of it was made to Binance, spread across over 86 accounts. $5.8M has been recovered.”

Even though Zhao didn't specify names attached to the 86 accounts potentially involved in the crypto heist, last week, the US Federal Bureau of Investigation told that hackers associated with the North Korea-backed Lazarus Group were behind the theft of $620 million in cryptocurrency from Axie Infinity. Axie Infinity is an NFT-based game that allows players to earn in-game currency that can later be converted to real-world currency. In late March, hackers attacked Axie Infinity's blockchain project called Ronin Network which enabled users to transfer crypto in and out of the game.