Økokrim seized nearly NOK 60 million in cryptocurrency. This is the largest amount of cryptocurrency ever confiscated by the Norwegian police.
It is also one of the largest cash seizures made in Norway. The seizure was made in connection with Økokrim's investigation into a digital attack on Sky Mavis and the game Axie Infinity.
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– The Økokrim are experts at following money. This case shows that we are also good at tracking money on the blockchain, even though criminals use advanced techniques to avoid detection, says senior prosecutor Marianne Bender.
In March 2022, approx. NOK 5 billion worth of cryptocurrency was stolen from the game. According to the Federal Bureau of Investigation (FBI), the North Korean hacker group Lazarus is behind the theft. Immediately after the attack, the group launched a massive money laundering operation using very sophisticated methods, which is still ongoing.
Collaboration across time zones
Økokrim has been working to track down the proceeds of the theft for quite some time. Økokrim and its international partners monitor the money laundering process around the clock. This allowed Økokrim to track a lot of money and made the laundering process more difficult for hackers.
– We work with FBI specialists in the field of cryptocurrency tracking. This type of cooperation between countries strengthens society's ability to fight digital crime, says Bender.
Økokrim will continue to monitor the money laundering operation
The goal of criminals is to convert cryptocurrency into money that can be used in the real world.
“This is money that could be used to fund the North Korean regime and its nuclear program. That's why it was important to keep track of the cryptocurrency and try to stop the conversion of assets into fiat currency, says Bender.
Økokrim will continue to monitor the hackers' money laundering operation and will try to stop the cryptocurrency exchange and seize the money before it can be used in the real world.
The confiscation comes from cryptocurrency stolen from the online game Axie Infinity, and Økokrim will be working with Sky Mavis to ensure the victims are reimbursed. Økokrim is pleased with the cooperation with the FBI and the US Department of Justice on this matter.
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Source: Økokrim
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