Sky Mavis Recovers $5.7M From 2022 Ronin Bridge Hack With FBI, Norway Intelligence Help

Here are some of the major developments from the world of crypto over the past few days
Sky Mavis, 
Norway intelligence, 
Ronin Bridge Hack
Sky Mavis, FBI, Norway intelligence, Ronin Bridge Hack

Sky Mavis, the company behind the popular play-to-earn (P2E) game Axie Infinity, announced on June 7, 2024 that it has recovered $5.7 million from the notorious Ronin Bridge incident of 2022, following assistance by the Norwegian authorities.

Sky Mavis said that Norway’s central unit for fighting economic and environmental crimes, Økokrim, froze and returned $5.7 million in funds from the 2022 Ronin Bridge hack. The efforts required coordination between law enforcement, lawyers, accountants and Blockchain forensic teams, such as Chainalysis. The gaming company has publicly thanked the Norwegian government and the US Federal Bureau of Investigation for tracking the funds and recovering the assets.

Sky Mavis further said that the recovered funds would return to the Axie Infinity treasury, while a portion of the funds will be allocated to cover the expenses of those who put in efforts to recover them, according to Cointelegraph.

CoinGecko Confirms Email Provider Data Breach, Over 23,000 Phishing Emails Sent

Cryptocurrency data aggregator CoinGecko has confirmed a data breach suffered by its third-party email management platform GetResponse. The security breach occurred due to a compromised employee account, CoinGecko said in an announcement on June 7, 2024.

“An attacker had compromised a GetResponse employee’s account, leading to a breach. We received confirmation from the GetResponse team on June 6, 2024 at 11:58 AM UTC that a data breach had occurred,” CoinGecko said in a statement.

CoinGecko said the compromised data included users’ names, email addresses, IP addresses, location of email opens and other metadata such as sign-up dates and subscription plans. However, user accounts and passwords remained secure and uncompromised, it added. CoinGecko said that while their main email domain wasn’t compromised, the attacker still managed to send a total of 23,723 phishing emails.

DeFi TVL Hits $192B For First Time In 15 Months

The total value locked (TVL) of decentralised finance (DeFi) applications hit $192 billion in May, the highest since February 2022, according to a report from Blockchain analytics company DappRadar. Despite the rise in TVL, the number of unique active wallets (UAW) using DeFi, however, declined by 21 per cent.

DappRadar attributed the TVL spike to short-term speculation about the potential for an Ethereum exchange-traded fund (ETF), which might have resulted in better rates for liquidity providers and lenders, encouraging them to deposit more cryptocurrency into DeFi apps.

Notably, despite the DeFi sector seeing a drop in UAW, other sectors of the Web 3.0 market gained users, according to the report.

Related Stories

No stories found.
Outlook Business & Money