Norwegian authorities have successfully frozen and returned $5.7 million worth of cryptocurrency assets that were stolen in a major hack on the Ronin (
RON
) network in 2022.
Ronin is a gaming-oriented sidechain of Ethereum (
ETH
) created by Sky Mavis, the team behind the popular NFT-based game Axie Infinity (
AXS
).
In March 2022, hackers linked to the North Korean cybercriminal group Lazarus Group took advantage of the private keys of the Ronin bridge, making off with 173,600 ETH and 25.5 million USD Coin (
USDC
), valued at over $600 million at the time.
Sky Mavis revealed on Friday that the Økokrim (Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime) had seized and returned $5.7 million of the stolen assets.
“The recovery of these assets has been a collaborative effort involving law enforcement agencies, legal professionals, accountants, and blockchain experts like Chainalysis. Approximately 15% of the recovered funds will be used to cover related expenses, with the remaining 85% being deposited into the Axie Infinity treasury.”
The developer also mentioned that a total of $40 million worth of the stolen cryptocurrency had been frozen by law enforcement following the hack.
“These assets will require some time to be fully recovered, and we currently do not have enough information to provide a specific timeline for the return of this separate pool of assets.”
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