Axie Infinity’s Ronin Network Hacked, Over $600M Worth Of Crypto Stolen
Hackers have stolen $625 million worth of cryptocurrency from Ronin Network, the blockchain company behind the popular play-to-earn game Axie Infinity, in what might be the biggest crypto heist in history.
According to Ronin, the hackers were able to exploit a breach between Vietnamese studio Sky Mavis and Ronin’s validator nodes that allowed them to siphon 173,600 ETH and 25.5 million USDC through fake withdrawals.
The company says that they’re currently working with various government agencies to track down and retrieve the stolen funds and bring the perpetrators to justice.
“We are in the process of conducting a thorough investigation; working with Chainalysis to monitor the stolen funds and Crowdstrike to handle forensics and the setup of surveillance tools,” reports Ronin. “We are committed to ensuring that all of the drained funds are recovered or reimbursed, and we are continuing conversations with our stakeholders to determine the best course of action.”
Naturally, the incident caused a big dip in the Ronin (RON) Token’s price which took a dive from around $2.30 to around $1.80 as soon as the news came out.
More information can be found on the Ronin Network official site.
