Fed Recovers $30 Million in Stolen Crypto Thanks to Chain Analysis

Fed Recovers  Million in Stolen Crypto Thanks to Chain Analysis


A joint effort by the US government and Chainalysis It led to the recovery of about $30 million in stolen cryptocurrency. This effort shows that cryptocurrency can and will be subject to increased scrutiny and coordinated investigative efforts between government and private institutions. Advances in blockchain analysis are key to increasing security in a field that has already seen $1.3 billion hacked by bad actors in 2022 alone.

According to Chainalysis, $30 million has been recovered from the prominent hacking squad Lazarus, which is believed to be operating with the blessing of the North Korean government (the US specifically says the group operates under the North Korea General Reconnaissance Office). The refund was part of the $625 million withdrawn from popular NFT game Axie Infinity, whose Ronin series was hacked earlier this year. Adjusting to the downward trend in the cryptocurrency price since the hack, the $30 million recovered represents only 12% of the stolen crypto assets.





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