• Norway’s economy crimes unit, Økokrim, recently seized NOK 60 million (or $5.9 million) in cryptocurrency as part of their investigation into the Sky Mavis cyber attack in March 2022.
• The successful seizure of the cryptocurrency is said to be linked to North Korea’s primary intelligence agency, the Reconnaissance General Bureau.
• Økokrim is now aiming to make things right for the hack victims and prevent the funds from being used for criminal activities with an international collaboration between FBI specialists and themselves.
Norway Seizes Cryptocurrencies Linked to North Korean Hackers
Discovery of Funds
Norway’s economy crimes unit, Økokrim, has seized a whopping NOK 60 million (or $5.9 million) in cryptocurrency as part of their ongoing investigation into the Sky Mavis cyber attack in March 2022, which saw a staggering $600 million worth of cryptocurrency stolen from Axie Infinity, the popular play-to-earn (P2E) gaming platform.
Linked to North Korea?
This breakthrough comes as it is allegedly linked to Lazarus, a North-Korea based hacking group. Moreover, according to a Feb. 2023 report, North Korea’s primary intelligence agency, the Reconnaissance General Bureau, have been behind theft of up to $1 billion worth of crypto through its teams – Lazarus, Andariel and Kimsuky.
In an amazing international collaboration between Norwegian authorities and FBI specialists they are working together track stolen assets via cryptocurrency transactions with aim of preventing funds from being used for criminal activities by hackers. Marianne Bender first states attorney mentioned that such global efforts are needed in fight against profit driven cybercrime and this case demonstrates that authorities can follow money on blockchain even when criminals try advanced tactics to outsmart them.
Restitution for Victims
Økokrim team has plans to make sure victims get compensated with its communication with Sky Mavis while also revealing intel on hackers who were not just looking for crypto but cash out real world investments which could funnel funds straight into North Korea’s nuclear weapons program if not tracked properly by authorities across time zones worldwide .
Global authorities are setting standard for international collaboration with this latest development in tracking down cryptocurrencies linked with North Korean hackers which would help prevent use of stolen assets for criminal activities and provide restitution victims deserve after cyber attacks like Axie Infinity heist