Future

Bitcoin

Ronin

Axie Infinity

Read

<ul>
 <li>Økokrim and US FBI recover $5.7M from Ronin cyber attack, showcasing international collaboration against virtual theft.</li>
 <li>Chainalysis aids in tracing illicit transactions, ensuring transparency in $5.7M asset recovery.</li>
 <li>15% of restored funds cover operation costs, with 85% directed to Axie Infinity treasury, bolstering trust in the gaming community.</li>
</ul>
<p>The Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim) has successfully frozen and restored $5.7 million in stolen assets linked to the Ronin bridge cyber attack. This achievement marks a milestone in combating cybercrime within virtual economies.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Today we received some exciting news from the Norwegian government and Økokrim.<br><br>The Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim) has successfully frozen and returned 5.7 M USD in stolen assets from the Ronin bridge…</p>— Sky Mavis (@SkyMavisHQ) <a href="https://twitter.com/SkyMavisHQ/status/1799026039454409004?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 7, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Økokrim, US FBI, a group of lawyers, and financial experts collaborated to ensure the feasibility of recoveries. This demonstrated that there is need for international cooperation in terms of prevention and solving of more complex threats affecting virtual economies.</p>
<p>Moreover, the involvement of blockchain forensic teams, notably Chainalysis, played a crucial role in tracing and verifying the illicit transactions, ensuring transparency and accountability in asset recovery processes.</p>
<p><strong>Allocation and Future Steps</strong></p>
<p>15% of the recovered funds will be allocated to cover the operational expenses incurred during the recovery operation. The remaining 85%, will be channelled into the Axie Infinity treasury, reinforcing financial stability and trust within the affected gaming community.</p>
<p>Despite the successful recovery, challenges remain as law enforcement authorities continue to manage and recover approximately $40 million USD in frozen assets from related investigations. The timeline for the retrieval of these assets remains uncertain, pending further developments and legal proceedings.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/ronin-optimized-to-enable-next-generation-of-web3-games/" rel="noopener noreferrer nofollow">Ronin Optimized to Enable Next Generation of Web3 Games</a></li>
 <li><a href="https://cryptonewsland.com/ronin-chain-to-halt-bridge-following-dpos-transition/" rel="noopener noreferrer nofollow">Ronin Chain To Halt Bridge Following DPoS Transition</a></li>
 <li><a href="https://cryptonewsland.com/ftx-recovers-3-5b-worth-of-crypto-assets-following-fiasco/" rel="noopener noreferrer nofollow">FTX Recovers $3.5B Worth of Crypto Assets Following Fiasco</a></li>
 <li><a href="https://cryptonewsland.com/axie-infinity-records-largest-defi-hack-of-600m/" rel="noopener noreferrer nofollow">Axie Infinity Records Largest DeFi Hack of $600M</a></li>
 <li><a href="https://cryptonewsland.com/mortal-kombat-on-ronin-network-validator-says-yes/" rel="noopener noreferrer nofollow">Mortal Kombat on Ronin Network? Validator Says Yes</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/bitcoin-assets-worth-5-7m-recovered-after-ronin-bridge-hack/" rel="noopener noreferrer nofollow">Bitcoin Assets Worth $5.7M Recovered After Ronin Bridge Hack</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Bitcoin Assets Worth $5.7M Recovered After Ronin Bridge Hack

Crypto News Land

Other articles published on Jun 7, 2024

Toncoin Prices Surge Significantly

Ripple Transfers 150 Million XRP Tokens to Unknown Address

WWE’s Hulk Hogan meme coin crashes amid insider trading allegations

New Cryptocurrency Releases, Listings, & Presales Today – Morpheus, zkGUN, Sowaka

Bitcoin ETFs flooded with billions, but BTC stands still – Why?

MoonBag Crypto Rides the Chariot of Success, Leaving Theta & Kangamoon in the Dust

Join our free newsletter for daily crypto updates!