Hackers made off with about $625 million worth of cryptocurrencies from a network that supports the popular video game Axie Infinity. It's one of the largest crypto hacks of all time.
The hackers breached the Ronin Network, an independent and Ethereum-compatible blockchain developed by Axie Infinity publisher Sky Mavis. Axie Infinity co-founder Jeff Zirlin discussed the hack on stage during a keynote address at the NFT LA conference.Web3 promises to put the internet into the hands of the people.
According to a blog posted to the Ronin network's official Substack on Tuesday, the system has halted activity on networks that allow players to convert assets in the Axie Infinity universe and to convert currency between the Ethereum and Ronin blockchains. Players who keep digital funds on the Ronin network are currently unable to make transactions. Beginning on March 23, attackers compromised private keys used to validate transactions on the network, according to the company blog post.
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