Nordic Country Confiscate North-Korea Cryptocurrencies.

Advanced Persistent Attack on Ronin Network. 

The new policies on crypto space have been one that has been going on for awhile now across some European countries. The Norwegian government has recently tracked and seized cryptocurrencies estimated to be over 60-million kroner. 

The reason as reported by the Nordic country in northern Europe, was related to the report that threat actors from North-Korea have been conducting money laundering activities on a large scale since the early year of march in 2022.

The crypto scheme occurred on the Ronin Network.

 

The Nordic country’s National Authority for Investigation and Prosecution of Economic and Environmental Crime whose head office is located in Oslo Økokrim , according to reliable sources the organization stated that they work with the FBI team on tracking the digital currencies known as crypto , and that the cooperation between the Nordic country and the FBI of the United States ascertains the success over the fight against digital crime. The Ronin Network that was utilized by the threat actors, was built and owned by a Vietnamese block-chain game developer, which its main purpose was to function as a sidechain for its Axie infinity game for Ethereum.

However, an APT (Advanced Persistent Threat) from a group of threat actors known as Lazarus located in the small city of Pyongyang in North-Korea, was able to breach the Ronin-Network after a phishing email was successfully opened by an employee. This was the biggest Heist ever recorded in the cyber-world, involving over $600-million worth of cryptocurrencies. The success attained by Oslo Økokrim involved the confiscation of an estimated $30-million worth of cryptocurrencies; funds stolen from the Ronin-Network.

A series of Blockchain analysis was conducted using tools from Chainalysis . This was acclaimed to reveal the use of A crypto-mixer tool known as Tornado Cash, which assisted the threat actors in laundering stolen funds. Further reports ascertain the stolen funds can be used in sponsoring the fast-growing nuclear weapon program In North-Korea.

 

 

 

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