HomeBitcoinHackers Steal Over $600 Million From Ronin Blockchain; Axie Infinity Hit

Hackers Steal Over $600 Million From Ronin Blockchain; Axie Infinity Hit


The Ronin cryptocurrency network, on which the game “Axie Infinity” is based, was the subject of a computer attack. “Most of the hacked funds are still in the hacker’s wallet,” Ronin explains. Created by the Vietnamese start-up Sky Mavis, Axie Infinity has enabled the company to become the benchmark for crypto-gaming in just a few years.

The Ronin network, used for the online game “Axie Infinity”, was the victim of a major hack on March 23. The hackers stole a large stock of cryptocurrencies, for an estimated amount of around $600 million

The thieves walked away with 173,699 Ethereum and 22.5 million USDC. This represents $615 million at current cryptocurrency prices (545 million on the day of the attack). “We are working with authorities, cryptographers and our investors to ensure that all funds are recovered or refunded,” the network manager said.

This is one of the biggest computer attacks targeting cryptocurrencies. In August 2021, an “ethical hacker” stole $600 million from the Poly Network platform before returning it a few days later. The United States recently recovered the equivalent of $3.6 billion in bitcoins stolen in 2016 from Bitfinex. They were worth around $71 million at the time.

The team of Sky Mavis, publisher of “Axie Infinity”, discovered the security flaw on Tuesday, after being notified by a user who could no longer withdraw his Ethereum. The investigation is ongoing but the hacker apparently used private “keys” (passwords) to access the digital funds, according to Ronin.

“Axie Infinity” is a blockchain-based game that earns money in the form of NFTs. One can participate in battles between Axis (the names of the characters) and earn “Smooth Love Potion” (SLP), which can then be exchanged for money or reinvested in the game.

Leave a Reply


Community releases music and artwork that is inspired by ETH to commemorate the Merge.

Co-founder of Ethereum Vitalik Buterin thanked everyone who contributed to the Merge in a tweet. The Ethereum community celebrated the successful transition of the Ethereum network...

Us Treasury Sanctions Iran-based Cybercriminals.

New Bitcoin Addresses are Blacklisted by OFAC In the USA, Bitcoin addresses are not welcome. In accordance with a statement dated September 14, the crypto addresses...

Terra founder Do Kwon has an arrest warrant out of South Korea.

Kwon and five other people, who are now in Singapore, are the subjects of an arrest warrant issued by a court in Seoul, South Korea. The...

Crypto: Chainalysis report: Emerging markets dominate the worldwide adoption index.

While the crypto winter's cold winds caused worldwide adoption to slow down, emerging markets appear to be on fire in terms of adoption, outpacing higher-income...

Follow us


Most Popular

%d bloggers like this: