Sky Mavis (Axie Infinity) Recovers $5.7 Million From Ronin Hack

Krutika Adani

Sky Mavis Recovers Funds from Ronin Exploit

Sky Mavis has recently made another recovery of $5.7 million from the Ronin bridge hack.

Norwegian Authorities Lend Support

The recovery was successful due to Norwegian authorities, who have also frozen another $40 million of stolen funds.

Most of the Funds Have Been Recovered

Sky Mavis has recovered most of the funds related to the exploit, which will now flow to its treasury.

$625 Million Hack

The infamous Lazarus Group of North Korea hacked Sky Mavis’s Ronin bridge in 2022, leading to a $624 million loss, the largest DeFi hack so far.

Smart Contract Hacks in Decline

A recent report by Merkle Science highlights that smart contract hacks have reduced. However, there has been a rise in private key-related hacks.