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.

 




Readers like you help support The Tech Outlook. When you make a purchase using links on our site, we may earn an affiliate commission. We cannot guarantee the Product information shown is 100% accurate and we advise you to check the product listing on the original manufacturer website. Thetechoutlook is not responsible for price changes carried out by retailers. The discounted price or deal mentioned in this item was available at the time of writing and may be subject to time restrictions and/or limited unit availability. Amazon and the Amazon logo are trademarks of Amazon.com, Inc. or its affiliates Read More

Advertisement

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More