Sky Mavis says it’s working with law enforcement to recover 173,600 Ethereum (currently worth around $600 million) and 25.5 million USDC (a cryptocurrency pegged to the US dollar) from the culprit, who withdrew it from the network on March 23rd. The attack focused on the bridge to Sky Mavis’ Ronin blockchain, an intermediary between Axie Infinity and other cryptocurrency blockchains like Ethereum. Users could deposit Ethereum or USDC to Ronin, then purchase non-fungible token items or in-game currency, or they could sell their in-game assets and withdraw the money.
According to Sky Mavis, an attacker used hacked private security keys to compromise the network nodes that validate transfers to and from the Ronin blockchain. That let the attacker quietly withdraw large quantities of Ethereum and USDC. The transfer was discovered today — nearly a week later — when another user attempted to withdraw 5,000 Ethereum through the bridge.
About Axie Infinity:
Axie Infinity is a blockchain-based trading and battling game that is partially owned and operated by its players.
To learn more about this project, check out our deep dive of Axie Infinity.
Inspired by popular games like Pokémon and Tamagotchi, Axie Infinity allows players to collect, breed, raise, battle and trade token-based creatures known as Axies.
These Axies can take various forms, and there are more than 500 different body parts available, including aquatic, beast, bird, bug, plant and reptile parts. Parts from each type class come in four different rarity scales: common, rare, ultra rare and legendary — and Axies can have any combination of body parts, making them highly variable and often rare and unique.
Each Axie is a non-fungible token (NFT) with different attributes and strengths and can be entered into 3v3 battles, with the winning team earning more experience (exp) points that are used to level up an Axie’s stats or evolve their body parts. These Axies can be bred together to produce new and unique offspring, which can be used or sold on the Axie marketplace.
The Axie Infinity ecosystem also has its own unique governance token, known as Axie Infinity Shards (AXS). These are used to participate in key governance votes and will give holders a say in how funds in the Axie Community Treasury are spent.
💎Axie Infinity ($AXS) is available in ZT Global exchange
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RISK STATEMENT– The trading of cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.
Roughly $625 million worth of cryptocurrency has been stolen from Ronin, the blockchain underlying popular crypto game Axie Infinity. Ronin and Axie Infinity operator Sky Mavis revealed the breach on Tuesday and froze transactions on the Ronin bridge, which allows depositing and withdrawing funds from the company’s blockchain.
Sky Mavis says it’s working with law enforcement to recover 173,600 Ethereum (currently worth around $600 million) and 25.5 million USDC (a cryptocurrency pegged to the US dollar) from the culprit, who withdrew it from the network on March 23rd. The attack focused on the bridge to Sky Mavis’ Ronin blockchain, an intermediary between Axie Infinity and other cryptocurrency blockchains like Ethereum. Users could deposit Ethereum or USDC to Ronin, then purchase non-fungible token items or in-game currency, or they could sell their in-game assets and withdraw the money.
According to Sky Mavis, an attacker used hacked private security keys to compromise the network nodes that validate transfers to and from the Ronin blockchain. That let the attacker quietly withdraw large quantities of Ethereum and USDC. The transfer was discovered today — nearly a week later — when another user attempted to withdraw 5,000 Ethereum through the bridge.
About Axie Infinity:
Axie Infinity is a blockchain-based trading and battling game that is partially owned and operated by its players.
To learn more about this project, check out our deep dive of Axie Infinity.
Inspired by popular games like Pokémon and Tamagotchi, Axie Infinity allows players to collect, breed, raise, battle and trade token-based creatures known as Axies.
These Axies can take various forms, and there are more than 500 different body parts available, including aquatic, beast, bird, bug, plant and reptile parts. Parts from each type class come in four different rarity scales: common, rare, ultra rare and legendary — and Axies can have any combination of body parts, making them highly variable and often rare and unique.
Each Axie is a non-fungible token (NFT) with different attributes and strengths and can be entered into 3v3 battles, with the winning team earning more experience (exp) points that are used to level up an Axie’s stats or evolve their body parts. These Axies can be bred together to produce new and unique offspring, which can be used or sold on the Axie marketplace.
The Axie Infinity ecosystem also has its own unique governance token, known as Axie Infinity Shards (AXS). These are used to participate in key governance votes and will give holders a say in how funds in the Axie Community Treasury are spent.
💎Axie Infinity ($AXS) is available in ZT Global exchange
🚀
💸Sign up on ZT Global exchange and start trading cryptocurrencies.
Our Social links 🔥
✅ FOLLOW us on Twitter:
✅ FOLLOW us on Medium:
✅ JOIN our Telegram community:
✅ FOLLOW us on Facebook:
#axieinfinity #hack #ronin #axiehack #cryptohack #stolencrypto #NFT #Review #Token #Altcoin #Cryptocurrency #blockchain​​​​​​​​​​​​ #altcoin​​​​​​​​​​​​​​​​​​​ #crypto #decentralized​​​​​​​ #ztglobal #defi #gamefi
RISK STATEMENT– The trading of cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.
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