- The North Korean team used more than 1,200 different encryption addresses for the hack.
- According to the Chainalysis team, North Korea-linked groups have stolen nearly $1 billion from DeFi Protocols.
US authorities have faced a hack of $30 million worth of cryptocurrency money from the Axie Infinity game, which is linked to North Korean hackers. This is nothing new. Lots of hacks happen every day and most people have a tough time with these hacks.
The company claimed that the North Korean-linked team initiated the withdrawal transactions, using more than 12,000 different crypto addresses so far, the former for 173,600 Ether (ETH) and the latter for $25.5 million (USDC).
The Chainalysis team estimated that in 2022, groups linked to North Korea stole nearly $1 billion in cryptocurrency from DeFi protocols. The company’s director of investigations said that we are sure that this will not be the last time that a cryptocurrency that has been stolen by a North Korean hacking team will be recovered.
Hacked Money Recovery
In March, more than $600 million was stolen from the Ronin Network. Ronin’s Network was a spin-off created for the for-profit game Axie Infinity. Chainalysis reports that five of the nine private keys held by transaction validators for the Ronin Network’s chain bridge were hacked by North Korea’s Lazarus Group.
According to Plante, the seizures account for nearly 10% of the total stolen funds from Axie Infinit and Chainalysis had a hand in using advanced tracking technologies to track the stolen funds to withdraw points and deal directly with law enforcement and industry players to quickly freeze the funds.
It was my honor to speak at #AxieCon And share a successful recovery of $30 million in cryptocurrency stolen from the Ronin Bridge. In these breakthrough investigations, the road to recovery is long. But the Axie Infinity community is strong and we will continue to participate in this fight. https://t.co/V0lwrOtThr
– Erin Plante (eeplante) September 8, 2022
According to the director of investigations, one of the most alarming trends in crypto crime nowadays is the massive increase in funds taken from DeFi protocols, especially cross-chain bridging.
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