Blockchain analytics firm Chainalysis and US law enforcement agencies Recovered $30 million in crypto stolen from North Korea-linked hack on Ronin, the main blockchain for web3 game Axie Infinity.
“This is the first time that cryptocurrency Stolen by North Korean hacker groups have been recovered. And we are confident that this will not be the last time,” Elliptic Chief Investigator Erin Plante wrote inblog postt
The recovery comes almost six months after the North Korean hacker. Lazarus Group Five of the nine validator keys were hacked on the Ethereum sidechain, resulting in the theft of 173,600 ETH, worth roughly $590 million at the time and 25.5 million USDC.
The stolen $30 million was recovered using Chainalysis’ blockchain tracker to see where the stolen funds were laundered.
“We saw that hackers bridge ETH from the Ethereum blockchain to the BNB chain, then convert ETH to USDD, which then bridges to the BitTorrent chain, where the Lazarus Group has hundreds of similar transactions through the block. Many chains to launder the money they stole from Axie Infinity in addition to traditional Tornado Cash laundering,” Plante said.
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