U.S. government has successfully recovered $30 million stolen in a hack: the amount is around one-tenth of the money that was stolen
According to a statement made by Erin Plante, senior director of investigations at blockchain detective Chainalysis, the U.S. government has successfully recovered $30 million in assets taken from the play-to-earn game Axie Infinity. The aforementioned amount is around one-tenth of the money that was stolen. Because of the collaboration between law enforcement authorities and business stakeholders, confiscation was made possible. Chainalysis claims that it tracked down the stolen money using its “advanced tracing procedures.” In addition to numerous other seizures at various exchanges, the recovered bitcoin includes around $5.8 million that was confiscated by Binance, a significant cryptocurrency exchange, in April. The company said the FBI was involved in all of the cases but did not name the other exchanges.
The North Korean hackers responsible for the Ronin robbery used 12,000 different crypto addresses to launder their stolen money. They mixed stolen Ether in batches and exchanged it for Bitcoin using the freshly approved Tornado Cash technology. The hackers would combine Bitcoin before using various services to cash it out. North Korean hackers have already stolen digital currency valued at about $1 billion this year.