The Wall Street Journal is reporting that the FBI has recovered over $30 million in cryptocurrency stolen by North Korean hackers earlier this year. It’s only a fraction of the $540 million stolen, but it’s something.
The Axie Infinity recovery represents a shift in law enforcement’s ability to trace funds through a web of so-called crypto addresses, the virtual accounts where cryptocurrencies are stored. These addresses can be created quickly without them being linked to a cryptocurrency company that could freeze the funds.
In its effort to mask the stolen crypto, Lazarus Group used more than 12,000 different addresses, according to Chainalysis. Unlike bank transactions that happen through private networks, movement between crypto accounts is visible to the world on the blockchain.
Advanced blockchain-monitoring tools and cooperation from centralized crypto exchanges enabled the FBI to trace the crypto to where Lazarus Group tried to cash out, investigators said.
The money was said to be laundered through the Tornado Cash mixer.
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- Globally, 30,000 websites are hacked daily.
- 64% of companies worldwide have experienced at least one form of a cyber attack.
- There were 20M breached records in March 2021.
- In 2020, ransomware cases grew by 150%.
- Email is responsible for around 94% of all malware.
- Every 39 seconds, there is a new attack somewhere on the web.
- An average of around 24,000 malicious mobile apps are blocked daily on the internet.