Share this article
US Government Recovers $30M From Crypto Game Axie Infinity Hack
Hackers stole over $600 million from Axie earlier this year.
Updated May 11, 2023, 6:37 p.m. Published Sep 8, 2022, 3:01 p.m.
Make us preferred on Google
Crypto analytics firm Chainalysis announced Thursday it helped the U.S. government recover about $30 million stolen from online video game Axie Infinity earlier this year.
In a blog post, Erin Plante, senior director of investigations at Chainalysis, said law enforcement officials were able to recover the funds, which were stolen by Lazarus Group, a North Korean hacking entity tied to multiple crypto thefts over recent years.
STORY CONTINUES BELOW
"With the help of law enforcement and leading organizations in the cryptocurrency industry, more than $30 million worth of cryptocurrency stolen by North Korean-linked hackers has been seized. This marks the first time ever that cryptocurrency stolen by a North Korean hacking group has been seized, and we’re confident it won’t be the last," Plante said.
Hackers stole over $600 million from Axie this past spring, laundering many of the proceeds through privacy mixer Tornado Cash. The U.S. Treasury Department later sanctioned Tornado Cash for facilitating money laundering.
A Treasury Department spokesperson didn't immediately return a request for comment.
This is a developing story and will be updated.
Di più per voi
Regulation, derivatives helping drive TradFi institutions into crypto, panellists say
Non-participation in decentralized finance is becoming a career risk for traditional finance professionals, panellists said.
Cosa sapere:
- Major financial institutions are expanding into crypto derivatives as clearer U.S. regulation helps make digital assets a mainstream portfolio allocation.
- New products such as overnight rate futures, multitoken indexes and access to DeFi liquidity are enabling institutional investors to move beyond bitcoin into broader crypto exposure and arbitrage strategies.
- Futures and other derivatives, underpinned by a robust industrywide beta benchmark, will channel trillions of dollars of institutional capital into crypto, making non-participation a growing career risk for traditional finance professionals, panellists said.
Top Stories
