Norwegian Government Recovers $5.7 Million Linked to Ronin Exploit
The Norwegian government has successfully recovered and returned $5.7 million linked to the 2022 Ronin exploit, a major incident involving the Ethereum sidechain for the Axie Infinity game.
Sky Mavis, the developer behind Axie Infinity, announced the news on X, expressing gratitude to law enforcement agencies and forensic firms like Chainalysis.
The recovered funds will cover expenses and contribute to the Axie Infinity treasury. Despite ongoing efforts, around $40 million in separate assets frozen by authorities remain unrecovered.
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The Ronin exploit, one of the largest in DeFi history, resulted in the loss of over $600 million in crypto assets, attributed to the Lazarus Group and other hacking incidents.
The attack compromised validator keys, enabling fraudulent transactions and draining millions from the Ronin bridge, a crucial link between the Ronin sidechain and Ethereum mainnet.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
