Axie Infinity's Ronin Bridge Hackers Have Started Transferring Stolen Ether

It is more likely that multiple attempts will be made to conceal transactions before cashing out fiat currencies elsewhere. This could lead to stricter rules and penalties for legitimate investors, according to the founder of Immutable Vision.

"This is where the privacy blockchain fails and becomes the basis for tougher laws that affect legitimate retail and institutional investors."

This is exactly what has happened with traditional banking, which has become a minefield of regulation and red tape for the average person.

Tornado Cash has become the weapon of choice for crypto-hackers and scammers. By severing the on-chain link between the source and target addresses, it enables private and anonymous transactions of Ether and ERC-20 tokens. It's a great option for people looking to relocate stolen valuables.

In late March, Ronin Bridge, which allows cross-chain transfers to the Axie Infinity ecosystem, was leveraged for over $610 million. Sky Mavis, the company responsible for Axie Infinity, has since stated that it is fully committed to compensating the victims of this massive heist.