Norwegian Government Returns Millions of Dollars of Cryptocurrency

The Norwegian government returned millions of dollars worth of cryptocurrencies.

According to the statement made by Sky Mavis, the Norwegian National Administration for Investigation and Prosecution of Economic Crimes and Environmental Crimes froze the cryptocurrencies stolen in the hacking attack.

$600 million was stolen

The Norwegian government returned $5.7 million worth of cryptocurrency stolen during the $600 million attack on Ronin in 2022.

The attack in March 2022 is still considered the largest attack in the history of decentralized finance (DeFi).

Ronin is an Ethereum sidechain designed to support the Web3 game Axie Infinity developed by Sky Mavis.

“The Norwegian National Authority for the Investigation and Prosecution of Economic Crimes and Environmental Crimes has successfully frozen and returned $5.7 million in assets taken in the Ronin bridge case,” Sky Mavis said.

Sky Mavis worked with law enforcement, lawyers, accountants, and blockchain firms such as Chainalysis to recover the stolen funds. 15% of the money received will be used to cover these expenses. The remaining part will be transferred to the Axie Infinity treasury.

According to Sky Mavis' statement, authorities in various countries have blocked assets worth approximately $40 million so far. It will take time for them to be returned. The company did not give a clear date for this.

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