Ronin Network says the attack raised 173,600 ether and $25 million in stablecoins (Representative)
San Francisco:
Hackers have stolen over $600 million worth of crypto from a digital ledger used by popular online game players Axie Infinity, in a major crypto heist revealed. on Tuesday.
Interest in cryptocurrency has exploded with its value, but money has also become an attractive target for tech-savvy thieves.
Ronin Network said its blockchain attack resulted in 173,600 ether and $25.5 million in stablecoins, a digital asset pegged to the US dollar.
The money was worth $545 million when it was stolen on March 23, but was worth about $615 million in Tuesday’s prices, making it one of the largest ever thefts in the world. electronic money.
“Most of the hacked funds are still in the attacker’s wallet,” Ronin said in a post revealing the theft.
The team at Sky Mavis, maker of the fighting and trading game Axie Infinity, discovered the security breach on Tuesday after a user was unable to withdraw ether, according to the company.
Ronin is still investigating the hack, but says that the hacker got hold of the private “keys” to withdraw the digital currency.
“We know that trust is required and are using every resource to deploy the most sophisticated security measures and procedures to prevent future attacks,” said Ronin.
“We are working with law enforcement officials, forensic cryptography experts, and our investors to ensure that users’ funds are not lost.”
In Axie Infinity, players engage in battles using colorful blob-like Axies and are primarily rewarded with “Smooth Love Potion” (SLP) that can be exchanged for cryptocurrency or cash – or head invest back into the game’s virtual world of Lunacia.
About 35% of Axie Infinity’s traffic – and the largest portion of its 2.5 million daily active users – comes from the Philippines, where high English proficiency, strong gaming culture and smartphone usage Widespread popularity has boosted its popularity, according to Sky Mavis.
To play the game, the player must first purchase at least three Axies.
Axie is an NFT – a unique, non-fungible token, with a specific set of capabilities and characteristics. Like NFT artworks, they are stored on the blockchain – an immutable digital ledger.
Axies can be bought, sold or rented to other players. Owners can also breed them to create new Axies that provide more value.
(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)
