Based on a February 16 press release by Norway’s National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim), agents managed to recover 60 million Norwegian Kroner ($5.85 million) in stolen crypto connected to the Axie Infinity Ronin Bridge hack in March 2022. As highlighted by a senior public prosecutor Bender:
“Økokrim is good at following the trail of money. This case shows that we also have a great capacity to follow the money on the blockchain, even if the criminals use advanced methods.”
These recovered funds will be used to repay the affected users, and prevent it from funding any North Korean nuclear weapon program.
Based on a statement by Bender, Økokrim worked with FBI agents and the United States Department of Justice to track the trail of all the stolen digital assets and crypto. She said:
“We as a society stand stronger in the fight against digital, profit-motivated crime. This money can support North Korea and their nuclear weapons program. It has therefore been important to track the crypto and try to stop the money when they try to withdraw it in physical value.”
The United States Department of Justice identified North Korea-backed Lazarus Group as the mastermind of the attack in April 2022.
Buy Bitcoin NowThe regulators say that Sky Mavis, developer of the Axie Infinity NFT game and Ronin Bridge, will get notified of this seizure so that the affected users “get the money back to the greatest extent possible.”
After a hack valued more than $600 million at the time of that incident, Axie Infinity reopened its Ronin Bridge in June 2022 after its founders, together with external investment from Binance reimbursed users 25.5 million USD Coin (USDC) and 117,600 ETH. The remaining 56,000 stolen ETH belonged to the Axie DAO Treasury and remains under-collateralized as Sky Mavis “works with law enforcement to recover the funds.”
