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HomeCrypto NewsChainalysis helps US authorities seize $30M linked to Axie Infinity hack

Chainalysis helps US authorities seize $30M linked to Axie Infinity hack

Chainalysis revealed that it helped the US authorities seize over $30 million from North Korea-linked hackers of the Axie Infinity’s (AXS) Ronin Bridge.

A senior govt of the blockchain analytics firm Erin Plante delivered the information on the  AxieCon occasion on September 8.

Plante stated:

“With the assistance of regulation enforcement and main organizations within the cryptocurrency trade, greater than $30 million value of cryptocurrency stolen by North Korean-linked hackers has been seized. This marks the primary time ever that cryptocurrency stolen by a North Korean hacking group has been seized, and we’re assured it gained’t be the final.”

Plante continued that the malicious gamers have used as many as 12,000 crypto addresses to this point, demonstrating their extremely refined laundering capabilities.

Plante additionally famous that the latest US sanction of Twister Money compelled the hackers to maneuver away from the crypto mixer and commenced “utilizing DeFi providers to chain hop, or swap between a number of completely different sorts of cryptocurrency in a single transaction.”

In keeping with Chainalysis, the hackers look like utilizing bridges to obscure the sources of those funds.

North Korea-linked hacker group Lazarus had stolen over $600 million from Axie Infinity earlier within the 12 months. The US Treasury Division later sanctioned crypto mixer Twister Money for its function in serving to the hacker launder their stolen funds.

In the meantime, Axie Infinity has reopened the Ronin Bridge, including additional layers of safety and reimbursing affected customers.

Axie Infinity’s AXS token has risen 1.9% inside the final hour to $13.88 on the again of the announcement.

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