'We are here to stay' 🚨 Axie Infinity insists it won't shut down after crypto worth $614 MILLION was stolen from the Ronin Network 👀 It's the biggest crypto hack on record... and it was only spotted by developers *six days* after it happened 👇
has been stolen after a jaw-dropping attack targeting the Ronin Network — a gaming blockchain that plays an instrumental role in powering Axie Infinity.
At the time of writing, this stash is worth $614 million — narrowly making this incident the biggest crypto hack on record. This overtakes the $611 million that was stolen from PolyNetwork last summer, although it's worth noting these funds were later returned. Ronin's statement says that the compromise took place on March 23, but it was only discovered on March 29 — a full six days later:
Questions are also being raised about the safeguards that were in place to prevent such an attack from occurring. The Ronin chain consists of nine validator nodes — and signatures from five of them are required to initiate a deposit or a withdrawal.
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