Norwegian police recover $5.9M stolen from Axie Infinity Ronin hack

In accordance with a press launch published on Feb. 16 by Norway’s Nationwide Authority for Investigation and Prosecution of Financial and Environmental Crime (Okokrim), authorities have seized 60 million Norwegian kroner ($5.85 million) in stolen cryptocurrencies linked to the Axie Infinity Ronin Bridge hack in March 2022. In accordance with Senior Public Prosecutor Marianne Bender: 

“Okokrim is nice at following the path of cash. This case reveals that we even have an awesome capability to observe the cash on the blockchain, even when the criminals use superior strategies.”

In accordance with Bender, Okokrim labored with Federal Bureau of Investigation brokers and the U.S. Division of Justice to trace the path of stolen digital property. “We as a society stand stronger within the combat in opposition to digital, profit-motivated crime,” she mentioned, “That is cash that may assist North Korea and their nuclear weapons program. It has due to this fact been vital to trace the cryptocurrency and attempt to cease the cash once they attempt to withdraw it in bodily worth.” In April 2022, The U.S. Division of Justice recognized North-Korea backed Lazarus Group because the mastermind of the assault. 

Authorities say that Sky Mavis, creator of the Axie Infinity recreation and the Ronin Bridge, might be notified of the seizure in order that affected customers “get the cash again to the best extent potential.” The hack was valued at over $600 million on the time of the incident. Axie Infinity reopened its Ronin bridge in June 2022 after its founders, together with exterior funding from Binance, reimbursed customers a complete of 117,600 Ether (ETH) and 25.5 million USD Coin (USDC). The remaining 56,000 stolen ETH belonged to the Axie DAO Treasury and stays undercollateralized as Sky Mavis “works with regulation enforcement to get better the funds.”