• Norwegian authorities have recovered $5.5 million from North Korean hackers in an Axie Infinity hack.
• The FBI and Norwegian authorities have been investigating the hack for almost a year and were successful in recovering the stolen assets.
• The hackers were attempting to “whitewash” the funds through a privacy mixer sanctioned by the U.S. Treasury Department.
Axie Infinity Hack
In March 2022, hackers looted the Ronin Network, Axie Infinity’s host network, in one of the biggest crypto heists to date. The Axie Infinity hackers successfully breached the network to steal crypto assets worth $625 million at the time; this included 174,000 ETH and 26 million USDC.
The Federal Bureau of Investigation (FBI) connected the hackers to a North Korean hacker group, Lazarus. Since then, international partners such as Økokrim and the FBI have been actively investigating and tracking down stolen assets from the hack. After months of investigation, Økokrim has made its largest crypto bust yet – recovering 60 million Norwegian kroner (~$5.9 million) from hackers connected to an Axie Infinity hack last year.
The FBI reported that Lazarus and other North Korean exploiters have stolen as much as $1 billion in crypto assets since 2017 with their main goal being money laundering operations via „whitewashing“ their funds through Tornado Cash, a privacy mixer which has been sanctioned by the U.S Treasury Department . However, due to successful investigations conducted by Økokrim and other international partners involved, they managed to prevent any further money laundering attempts by recovering millions of stolen assets from being used for more crime.
Increased Crypto Value
Since news of recovery was announced, both AXS and RON tokens have seen an increase in value – 8% for AXS ($11) & 10% for RON ($0.8788).
Norwegian authorities have proven themselves capable of taking on economic crime cases involving cryptocurrencies – making their largest crypto bust yet with help from international partners such as FBI while preventing any further money laundering activities or use of stolen assets for more crime from happening due to their successful recovery efforts .