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A notable development in the cryptocurrency world was that Norway returned approximately $6 million of stolen crypto assets as a result of Axie Infinity's $620 million hack attack. This refund process was announced by Sky Mavis, the blockchain company behind the game project, on the social media platform X.
Quick Statement from Sky Mavis Team
Sky Mavis thanked the Norwegian National Agency for the Investigation and Prosecution of Economic and Environmental Crimes for the freezing, recovery and return of $5.7 million of stolen crypto assets. Likewise, he expressed gratitude to the FBI for its efforts to track down and recover assets.
Axie Infinity was launched in 2020 with the concept of "win by playing" and attracted the attention of millions of players. It has become a huge phenomenon, especially for players in developing countries, offering them the opportunity to earn beyond the local minimum wage.
Featured Process Details
In early 2022, Axie Infinity tokens lost value due to a major crypto crash, resulting in a decrease in the number of players. Additionally, the Ronin blockchain was targeted by North Korean hackers. In its statement, Sky Mavis stated that 15% of the recovered assets will be used to cover the costs of the recovery efforts.
The remaining 85% of the fund will be deposited in the Axie Infinity treasury. The company also added that assets worth approximately $40 million have been frozen, but their recovery process is uncertain.
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I EXPLAIN IN DETAIL.
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