According to Elliptic, the hacker started swapping USDC tokens for Ethereum shortly after the hacking incident to make sure that they will not be seized by Circle, the issuer of the centralized stablecoin.
They used decentralized exchanges that allow their users to effortlessly launder money without performing any identity checks. However, the attacker also started laundering a portion of the stolen Ether through centralized exchanges, which raise some eyebrows in the crypto community. The vast majority of the stolen funds remain in various accounts that belong to the hacker.
Binance, the world's largest crypto trading platform, suspended transactions on the Ronin network earlier today in the aftermath of the hack.
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