Ronin Network, the blockchain technology linked to Sky Movis’s game Axie Infinity, has been the target of a massive cyber attack. According to the latest information, this was the largest cryptocurrency heist in history.
In all, more than $615 million (about 560 million euros) was stolen from Ronin’s systems.
Hackers stole 173,600 Ethereum units and $25.5 million USD
Blockchain is considered as a technology that is decentralized in nature, which makes it very difficult to exploit its core functions. But companies cannot risk complacency. A large network like Ronin, the blockchain network that supports Sky Movis's Axie Infinity game, only had nine validators.
By only settling five of them, the attackers were able to orchestrate one of the largest cryptocurrency thefts to date by spoofing NFT transactions.
Ronen's validation contract was breached on Wednesday, March 23, but Sky Mavis said it only discovered the attack about a week later, on Tuesday, March 29, according to CheckPoint. The attacker used the hacked private keys to circumvent two withdrawals, resulting in the theft of millions of dollars.”
It is worth noting that the Ronin blockchain works in parallel with the Ethereum blockchain. according to official announcement From the platform, hackers stole 173,600 Ethereum units and $25.5 million USD.
Ronin has already confirmed that it is working with major crypto platforms and with Chainalysis to recover stolen tokens.
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
