Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»Norwegian government freezes and returns $5.7 million linked to Ronin hack
ADOPTION NEWS

Norwegian government freezes and returns $5.7 million linked to Ronin hack

By Crypto FlexsJune 7, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Norwegian government freezes and returns .7 million linked to Ronin hack
Share
Facebook Twitter LinkedIn Pinterest Email

The Norwegian government froze and returned $5.7 million in related funds, including $600 million. ronin theory

-2.22%
Exploit in 2022.

Ronin is an Ethereum sidechain built to support Play-to-Earn Web3 games. axi infiniti AXS

-1.12%
Created by developer Sky Mavis.

Sky Mavis posted on

The Axie Infinity web3 game creator said recovering assets would require a joint effort between law enforcement, lawyers, accountants and blockchain forensics companies such as Chainalytic. It was confirmed that 15% of the funds would be used to cover costs and the remainder would be deposited into the Axie Infinity treasury.

“We would like to express our heartfelt gratitude to everyone who assisted in the recovery efforts, especially Økokrim and the FBI in the United States, who are working tirelessly to track down and recover these assets for the Axie and Ronin communities.” Sky Mavis added.

The game developer has so far said about $40 million in separate assets have been frozen by law enforcement, but has repeatedly said it will take some time to recover and that it cannot provide a specific time for their return at this stage.

Ronin’s $600 Million Exploit

The March 2022 Ronin exploit remains the largest DeFi exploit in history, resulting in the loss of more than $600 million in cryptocurrency assets, according to The Block’s data dashboard. This attack, along with other hacks such as the $100 million Harmony bridge exploit in January 2023, has been linked to North Korea’s Lazarus Group.

The attack resulted in the loss of 173,600 ETH (worth approximately $590 million at the time) and $25.5 million worth of stablecoin USDC.

Specifically, this incident resulted in 5 out of 9 validator private keys on the Ronin network being compromised. Once that validator was controlled, the attacker gained the ability to authorize and execute fraudulent transactions to drain funds from the Ronin bridge, which is used to transfer assets between the Ronin sidechain and the Ethereum mainnet.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

SOL Leverage Longs Jump Ship, is it $ 200 next?

September 24, 2025

Bitcoin Treasury Firm Strive adds an industry veterans and starts a new $ 950 million capital initiative.

September 16, 2025

The best Solana depin project to form the future -Part 2

September 8, 2025
Add A Comment

Comments are closed.

Recent Posts

ChainUp Wins Top Crypto Compliance Technology Honor At Thomson Reuters-Presented Awards

September 24, 2025

Fitell Corporation Launches Solana (SOL) Digital Asset Treasury With $100M Financing Facility, With Focus On Yield And On-Chain DeFi Innovation

September 24, 2025

Nebeus Overfunds Equity Crowdfunding Campaign With €3.6M Raised, Reflecting Growing Demand For Regulated Crypto–Finance Solutions

September 24, 2025

Next Binance Coin (BNB) Price Rally 3 Catalysts that can supply fuel

September 24, 2025

Ether Leeum World Fair Announcement

September 24, 2025

SOL Leverage Longs Jump Ship, is it $ 200 next?

September 24, 2025

Navigating Policy & Regulation in Blockchain

September 23, 2025

Flipster Debuts Market’s First USD1 Perps For BTC, ETH, SOL, XRP, And DOGE

September 23, 2025

BYDFi Joins Korea Blockchain Week 2025 (KBW2025): Deepening Web3 Engagement

September 23, 2025

MEXC Brings Immersive Experience With ‘0 Fee Lounge’ To Token2049

September 23, 2025

Moonbirds And Azuki IP Coming To Verse8 As AI-Native Game Platform Integrates With Story

September 23, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

ChainUp Wins Top Crypto Compliance Technology Honor At Thomson Reuters-Presented Awards

September 24, 2025

Fitell Corporation Launches Solana (SOL) Digital Asset Treasury With $100M Financing Facility, With Focus On Yield And On-Chain DeFi Innovation

September 24, 2025

Nebeus Overfunds Equity Crowdfunding Campaign With €3.6M Raised, Reflecting Growing Demand For Regulated Crypto–Finance Solutions

September 24, 2025
Most Popular

Binance plans to delist several tokens, including GFT and REN, by December 2024

November 26, 2024

Is a gradual rise expected?

August 26, 2024

Ether Leeum Price Rally is more than $ 2.8K for two weeks-suggests that data is a pump dump.

February 17, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.