Recovering Stolen Crypto From the Ronin Sidechain Will Take Time — Sky Mavis

Sky Mavis, the company behind the creation of the blockchain game Axie Infinity, intends to return at least part of the cryptocurrency stolen by the hacker from the Ronin sidechain.

According to Bloomberg, the company wants to return approximately $600 million, but this will take some time.

According to Sky Mavis COO Alexander Leonard Larsen, the approximate period for a partial return of assets will be about two years. He added that the company is working with various law enforcement agencies to trace and return tokens, mainly Ethereum. Larsen did not disclose details of the investigation.

Rishav Rai, chief investigator at crypto security firm Merkle Science, noted that the chances of recovering all the stolen funds in large attacks are very small, but it is also very difficult for hackers to launder assets in large amounts.

Rishav Rai said that after hacking the Ronin sidechain, the attacker sent some of the ETH to the Tornado Cash mixing service, but such tools are not designed for large volumes, and moving assets through various wallets and exchanges is expensive and time-consuming.

Larsen confirmed that the hacker gained access to five of the nine nodes after carrying out a social engineering attack on one of the employees. This allowed the unauthorized withdrawal of funds.

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