Norwegian police seized almost 60 million kroons ($5.9 million) in cryptocurrency.
The assets were previously stolen by the notorious North Korean hacking collective, the Lazarus Group, which breached the security of the blockchain-based game Axie Infinity.
The seizure of records
Norwegian National Authority for the Investigation and Prosecution of Economic and Environmental Crimes (Økokrim) confiscated Nearly $6 million worth of digital currencies, a record crypto seizure in the Scandinavian country.
The agency noted that the funds are part of the massive exploit at Sky Mavis (a tech company that develops the popular blockchain-based game Axie Infinity) carried out by North Korean hackers.
Økokrim joined forces with international law enforcement partners, including the FBI, to track stolen proceeds and prevent criminals from laundering money.
“We work with FBI specialists on cryptocurrency tracking. Such cooperation between countries means that we as a society are stronger in the fight against profit-motivated digital crime,” said First State Attorney Marianne Bender.
He further claimed that the hackers’ main goal was to support North Korea’s totalitarian regime and fuel its nuclear weapons programs.
“So it has been important to track cryptocurrency and try to stop the money when they try to withdraw it into physical securities,” he added.
Bender praised Økokrim’s efforts, saying that this case “shows that we also have a strong ability to follow money on the blockchain, even if criminals use advanced methods.”
The Center for a New American Security (CNAS) warned last year that North Korea’s infamous hacking group, Lazarus, is made up of “a masterful army of cybercriminals and foreign affiliates.” It also uses “sophisticated” techniques to drain assets from blockchain organizations.
North Korea: A Global Leader on the Crypto Crime Scene
One of the largest attacks in cryptocurrency history occurred last spring when criminals heist over $588 million in ETH and $25.5 million in USDC from Ronin Bridge (an Ethereum sidechain built for Axie Infinity). After conducting an investigation, the FBI certain that Lázaro’s group was behind the crime.
Blockchain analytics company – Elliptic Enterprises – revealed Several months later, the hacker collective was responsible for another attack: the $100 million exploit on Harmony’s Horizon Bridge.
Chainalysis also explored the issue, estimating that North Korean hackers stole a record $1.7 billion worth of cryptocurrency in 2022, diverting 65% of those funds from DeFi protocols.
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