By Elias Al Helou
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U.S seizes $30 mn in crypto from North Korea-linked hackers

Following the March 2022 theft of more than $600 mn from Ronin Network
U.S seizes $30 mn in crypto from North Korea-linked hackers
Crypto (Image credit: Getty)

With the help of law enforcement and leading organizations in the crypto industry, more than $30 million worth of cryptocurrency stolen by North Korean-linked hackers has been seized. This marks the first time ever that cryptocurrency stolen by a North Korean hacking group has been seized, according to blockchain data platform Chainalysis.  

These are the results thus far of Chainalysis’ investigation following the March 2022 theft of more than $600 million from Ronin Network, a sidechain built for the play-to-earn game Axie Infinity.

The seizures represent approximately 10 percent of the total funds stolen from Axie Infinity (accounting for price differences between time stolen and seized) and demonstrate that it is becoming more difficult for bad actors to successfully cash out their ill-gotten crypto gains.

Chainalysis Senior Director of Investigations, Erin Plante joined the Axie Infinity team onstage yesterday at AxieCon in Barcelona to deliver the news

The Chainalysis Crypto Incident Response team played a role in these seizures, utilizing advanced tracing techniques to follow stolen funds to cash out points and liaising with law enforcement and industry players to quickly freeze funds. 

The seizures represent approximately 10 percent of the total funds stolen from Axie Infinity (accounting for price differences between time stolen and seized) and demonstrate that it is becoming more difficult for bad actors to successfully cash out their ill-gotten crypto gains.

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