SEC v Ripple: Has the SEC’s latest filing put some life into this legal battle
Ripple (XRP) Price Prediction 2025-2030: Is $10 by 2030 gettable for XRP?
Dogecoin (DOGE) Price Prediction 2025-2030: How high will DOGE moon by 2030?
How these Solana [SOL] collaborations led to a >$1B redemption- What next
LINK prepares for potential breakout after a mid-week bounce but that’s not all
Around 50% BTC holders see gains BUT (over) optimism can be dangerous
Bitcoin: Can miners survive this double-edged combat?
DeFi TVL drops by 10% in August; Ethereum leads with most losses
Bitcoin [BTC] sweeps July lows; is a recovery around the corner
Bitcoin investors brace for a short-term bullish bounce for these reasons
Ethereum: After a dampened sentiment, ETH notices some shift in demand
ETHW vs. ETC: Which way would miners choose going forward?
DeFi TVL drops by 10% in August; Ethereum leads with most losses
Ethereum [ETH] approaches $1,700, but how likely is it to break out
Ethereum: Why the Merge may not be a pretty sight for ETH miners
Published
on
By
The United States seized $30 million worth of cryptocurrency stolen by North Korea-linked hackers. The news was  released by blockchain data platform Chainalysis.
In a recently published blog, Erin Plante, Senior Director of Investigations, Chainalysis shed further light on the matter. He wrote that Chainalysis’ collaboration with law enforcement and leading crypto organizations has helped the authorities. Together, they could seize more than $30 million worth of cryptocurrency.
This was the cryptocurrency that was stolen from the Ronin Network by North Korean-linked hacking group, Lazarus.
The Ronin Network executes transactions related to the gaming company, Axie Infinity. On 29 March 2022, the Ronin Blockchain team informed in a blogpost that it had been exploited for 173,600 ETH and 25.5 million USDC. These two transactions led to a collective loss of $625 million. 
 The DeFi protocol said that it was working directly with various government agencies to ensure that the criminals are brought to justice. The laundered assets were distributed over 12,000 different crypto addresses as per Chainalysis.
 The firm also identified Tornado Cash, a decentralized cryptocurrency mixer, as the primary tool used by the hackers to launder crypto assets. In August 2022, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash for laundering more than $7 billion worth of virtual currency.  
OFAC also underlined its usage in laundering over $455 million worth of cryptocurrency stolen from Axie Infinity. It also noted the role of the Lazarus Group, a Democratic People’s Republic of Korea (DPRK) state-sponsored hacking group.
Furthermore, in March, the Federal Bureau of Investigation (FBI) issued a press release on the matter at hand. The press release stated that cyber hacking groups, Lazarus Group and APT38, affiliated to the North Korea state are responsible for various thefts. More popularly, of over $6200 million worth of crypto assets. These illicit activities generate revenue for the North Korean regime according to the FBI. 
 The recovered amount is merely a fraction of the $600 million worth of crypto assets stolen by the hacking group. The seizure is still a breakthrough for law enforcement and investigators that are actively trying to recover some of the remaining loot. However, this news can be considered as a move in the right direction.  
 

Cardano’s latest version of the Daedalus wallet has ADA aiming for new highs 
ATOM ventures past the $13.5 level — can the bulls push for further gains?
Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/
This automobile giant becomes the latest to step foot in the NFT world
This UK Parliament member wants the country to be a hub for cryptos
AXS, RON see red despite seizing 10% of Ronin hack funds  
Has SEC Chairman Gensler altered his stance on cryptos, securities
Coinbase backs Tornado Cash users as they sue the Department of Treasury
EmpiresX: What now as head trader pleads guilty to $100 million ponzi scheme
Your email address will not be published.




document.getElementById( “ak_js_1” ).setAttribute( “value”, ( new Date() ).getTime() );

Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.

source

Write A Comment