Sky Mavis, the developer behind Axie Infinity, has successfully retrieved approximately $5.7 million from the Ronin Bridge exploit with assistance from the Norwegian government.

In a statement on June 7, the company announced:

"The Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim) has frozen and returned $5.7 million in stolen assets from the Ronin bridge incident."

The Ronin bridge, an Ethereum sidechain used for the play-to-earn game Axie Infinity, was exploited in 2022, resulting in the theft of 173,600 Ethereum, valued at over $615 million at the time. Since then, Sky Mavis has been actively working to recover the funds, with limited success.

Meanwhile, the perpetrator, allegedly linked to the North Korea-backed Lazarus Group, has laundered a significant portion of the stolen ETH through the crypto mixing tool Tornado Cash.

Sky Mavis reported that a total of $40 million associated with the incident has been frozen by various law enforcement agencies. The company stated:

"It will take some time to recover these assets, and we do not currently have enough information to provide a specific timeline for the recovery and return of this separate pool of assets."

The recovery efforts were made possible through collaboration among multiple agencies, including the US Federal Bureau of Investigation (FBI), Økokrim, and blockchain forensic firm Chainalysis. Sky Mavis emphasized the importance of coordination among law enforcement, legal teams, accountants, and blockchain experts in the asset recovery process.

Sky Mavis plans to allocate approximately 15% of the recovered funds to cover recovery costs, with the remaining 85% intended for return to the Axie Infinity Treasury.

Despite these developments, the asset recovery did not lead to a significant improvement in the performance of Axie Infinity's AXS token or Ronin's RON token. According to CryptoSlate data, both digital assets experienced slight declines of 1.09% and 2.65%, respectively, over the past 24 hours.