News

Hackers stole crypto worth $615M from the blockchain behind Axie Infinity

Pinterest LinkedIn Tumblr
ADVERTISEMENT

Ronin, the blockchain behind the popular play-to-earn game Axie Infinity, was recently breached by hackers who stole over USD 615 million worth of cryptocurrency. It is now one of the largest cryptocurrency heists on record.

Some 173,000 ether tokens and 25.5 million USD Coin Tokens were stolen on March 23, which are now worth around USD 615 million. At the time of the heist, it was worth around USD 540 million.

Ronin is the blockchain used by the popular online game Axie Infinity. It uses non-fungible tokens or NFTs. It also happens to be one of the biggest collections by all-time sales volume, according to NFT market tracker CryptoSlam. It is likely the reason why it was also targeted.

ADVERTISEMENT
CONTINUE READING BELOW

Sky Mavis, the company that developed Ronin and owns Axie Infinity, said that it is working with law enforcement officials to make sure funds are recovered.

Also Read: Redefining gaming with play-to-earn and guilds

Thousands of users, including Filipinos, were affected by the attack. Withdrawals from the Ronin network are also suspended.

Via

ADVERTISEMENT
Author

Bryan is a tech enthusiast and self-admitted geek who enjoys blogging and watching NBA clips on YouTube. He has over 20 years of experience in corporate communications, marketing services, and customer relations from different industries such as telecommunications and banking.

Write A Comment