cc.Link
  • Home
  • News
  • NFT
  • Videos/Tips
  • Mining
    • How to Mine Bitcoin
    • Top Mining Software
    • Mining Articles
  • Tools
    • Live Crypto
    • Free Wallet
  • Live
  • Marketplace
  • Contact us
No Result
View All Result
cc.Link
  • Home
  • News
  • NFT
  • Videos/Tips
  • Mining
    • How to Mine Bitcoin
    • Top Mining Software
    • Mining Articles
  • Tools
    • Live Crypto
    • Free Wallet
  • Live
  • Marketplace
  • Contact us
No Result
View All Result
cc.Link
No Result
View All Result
Home NFT

Axie Infinity Loses $620 Million After Hacker Compromised Ronin Validators

ccLink by ccLink
March 29, 2022
in NFT
0
Axie Infinity Loses $620 Million After Hacker Compromised Ronin Validators
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

According to Sky Mavis, the creators of the blockchain NFT game Axie Infinity, the Ronin network has been attacked, and a hacker has managed to siphon 173,600 in ethereum and 25.5 million usd coin (USDC). The attacker has obtained roughly $620 million worth of crypto assets, and the Ronin bridge and Katana Dex have been paused.

The Largest NFT Blockchain Game Axie Infinity Suffers From a $620 Million Hack

The largest non-fungible token (NFT) blockchain game, Axie Infinity, has suffered from an attack on Tuesday after the Ronin network validators were compromised. Sky Mavis, the company behind the Axie Infinity project, explained that the validators were compromised as early as March 23.

Related articles

VAST Completes Private Investment Round as It Readies to Launch First-Ever EngageFi™ NFT Platform

VAST Completes Private Investment Round as It Readies to Launch First-Ever EngageFi™ NFT Platform

May 26, 2022
Vitalik Buterin proposes ‘soulbound’ NFTs for path to decentralized society

Vitalik Buterin proposes ‘soulbound’ NFTs for path to decentralized society

May 26, 2022

The funds were drained in two transactions (transaction 1 and transaction 2) and Sky Mavis discovered the attack after a user complained that they could not withdraw 5,000 ether from the Ronin bridge.

“The attacker used hacked private keys in order to forge fake withdrawals,” Sky Mavis’s post mortem statement discloses. While the Ronin bridge and Katana Dex has been halted, Sky Mavis also said: “We are working with law enforcement officials, forensic cryptographers, and our investors to make sure all funds are recovered or reimbursed. All of the AXS, RON, and SLP on Ronin are safe right now.”

The team further explained that the project uses nine validator nodes to run Ronin, and in order to deposit or withdraw, five out of nine are needed to process a transaction.

“The attacker managed to get control over Sky Mavis’s four Ronin Validators and a third-party validator run by Axie DAO,” Sky Mavis said. “The validator key scheme is set up to be decentralized so that it limits an attack vector, similar to this one, but the attacker found a backdoor through our gas-free RPC node, which they abused to get the signature for the Axie DAO validator.”

What’s worse is that Sky Mavis notes that the attacker got away with it because of a change made back in November 2021, and they discontinued the “Axie DAO allowlisted” scheme the very next month.

However, the “allowlist access was not revoked” the team said, and Sky Mavis added that “once the attacker got access to Sky Mavis systems they were able to get the signature from the Axie DAO validator by using the gas-free RPC.” Sky Mavis’s post mortem continued:

We have confirmed that the signature in the malicious withdrawals match up with the five suspected validators.

The attack against Ronin is one of the largest hacks against a crypto protocol this year, as it surpassed the attack against the Wormhole bridge. That specific attack against the Wormhole bridge saw the loss of $320 million, but the funds were replaced by Jump Crypto. Sky Mavis explained on Tuesday that the team is working with law enforcement in order to “ensure the criminals get brought to justice.”

Moreover, the team is in the process of discussing with stakeholders and talking about how to make sure users are compensated. “Sky Mavis is here for the long term and will continue to build,” the team’s post mortem concludes.

Tags in this story

$620 million, Attack, Axie DAO, axie infinity, Axie Infinity Exploit, axs, Exploit, Hack, Katana Dex, post mortem, Ronin attack, Ronin Bridge, Ronin chain, Ronin Validator Vulnerability, Ronin Validators, Sky Mavis, stakeholders, Vulnerability, Wormhole bridge

What do you think about Axie Infinity losing $620 million to someone who found a validator exploit? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

View Source

Did you like this post? Consider donating to us.

[crypto-donation-box]

Tags: InfinityLosesnft
Share76Tweet47

Related Posts

VAST Completes Private Investment Round as It Readies to Launch First-Ever EngageFi™ NFT Platform

VAST Completes Private Investment Round as It Readies to Launch First-Ever EngageFi™ NFT Platform

by ccLink
May 26, 2022
0

press release PRESS RELEASE. Miami, FL – VAST, the multimedia NFT marketplace that dropped the first-ever NFT sitcom featuring Snoop...

Vitalik Buterin proposes ‘soulbound’ NFTs for path to decentralized society

Vitalik Buterin proposes ‘soulbound’ NFTs for path to decentralized society

by ccLink
May 26, 2022
0

NFTs "Soulbound" NFTs will record details of your social identity with the intention of enabling a Web3 decentralized society. 2...

Phishing Scams in Crypto & NFTs Continue as 29 MoonBirds Stolen

Phishing Scams in Crypto & NFTs Continue as 29 MoonBirds Stolen

by ccLink
May 26, 2022
0

When a community embraces an innovation, we all recognize that it will be targeted by fraudsters, scammers, phishers, or other...

NFT Show Europe: An Immersive Experience on Blockchain Technology, Metaverse and Crypto-Digital Art

NFT Show Europe: An Immersive Experience on Blockchain Technology, Metaverse and Crypto-Digital Art

by ccLink
May 26, 2022
0

NFT Show Europe is set to become the leading European meeting point for metaverse, blockchain, and crypto experts, full of...

GameStop Launches its Own ETH-Based Wallet for NFTs and Crypto

GameStop Launches its Own ETH-Based Wallet for NFTs and Crypto

by ccLink
May 25, 2022
0

Electronics retail giant GameStop has launched a cryptocurrency and NFT wallet to pivot into the digital assets world. The wallet...

Load More
  • Trending
  • Comments
  • Latest
Crypto exchange Gate.io to provide Pyth Network with price data

Crypto exchange Gate.io to provide Pyth Network with price data

November 25, 2021
LUNA Price Pumping Today, up Over 1700%, Should You Buy The Dip?

LUNA Price Pumping Today, up Over 1700%, Should You Buy The Dip?

May 14, 2022
🚨 BTC, ETH, CRO, SHIB: ATTENZIONE A DOMANI – CRYPTO.COM FA DIETROFRONT? (ascolta ora)

🚨 BTC, ETH, CRO, SHIB: ATTENZIONE A DOMANI – CRYPTO.COM FA DIETROFRONT? (ascolta ora)

May 9, 2022
Coinstash Earn Offers Australians Rewards Of Up To 18% On Their Crypto and 4.20% On Their AUD Savings

Coinstash Earn Offers Australians Rewards Of Up To 18% On Their Crypto and 4.20% On Their AUD Savings

April 22, 2022
AMC CEO Proudly Declares That the Company Now Accepts Various Cryptocurrencies as Online Payment

AMC CEO Proudly Declares That the Company Now Accepts Various Cryptocurrencies as Online Payment

0
New york city’s Incoming Mayor Wants to Be Paid in Bitcoin (At Least Temporarily)

New york city’s Incoming Mayor Wants to Be Paid in Bitcoin (At Least Temporarily)

0
International Money Laundering Watchdog Says Uh, Yeah, Better Regulate Cryptocurrency

International Money Laundering Watchdog Says Uh, Yeah, Better Regulate Cryptocurrency

0
No, Putin Isn’t Embracing Cryptocurrency Just Yet

No, Putin Isn’t Embracing Cryptocurrency Just Yet

0
TERRA LUNA & UST 🚨 URGENT AIRDROP UPDATE!! 🚨 WATCH IN NEXT 24 HOURS 🚨🌛 TERRA LUNA PRICE PREDICTION 🌛

TERRA LUNA & UST 🚨 URGENT AIRDROP UPDATE!! 🚨 WATCH IN NEXT 24 HOURS 🚨🌛 TERRA LUNA PRICE PREDICTION 🌛

May 27, 2022
CRYPTO MARKET UPDATE || SOMETHING CHANGED ?

CRYPTO MARKET UPDATE || SOMETHING CHANGED ?

May 27, 2022
Crypto Gaming Portfolio That Can Turn Pennies Into Millions!

Crypto Gaming Portfolio That Can Turn Pennies Into Millions!

May 27, 2022
Bitcoin: WORST To Come In CRYPTO CRASH; Pro’s Go SHORT! [Short-Selling Explained]

Bitcoin: WORST To Come In CRYPTO CRASH; Pro’s Go SHORT! [Short-Selling Explained]

May 27, 2022

Join our mailing list

Tags

ADA altcoin altcoins best altcoins Binance bitcoin bitcoin analysis bitcoin crash bitcoin live bitcoin news bitcoin news today bitcoin prediction bitcoin price bitcoin price prediction bitcoin today Blockchain btc btc news btc price buy bitcoin Cardano Crypto crypto crash Cryptocurrency cryptocurrency news crypto market Crypto Monnaie cryptomonnaie Crypto News crypto news today crypto trading DEFI Dogecoin ETH Ethereum Finance investing metaverse Money nft Ripple Shiba inu Solana trading xrp

© 2022 CC.LINK

No Result
View All Result
  • Home
  • News
  • NFT
  • Videos/Tips
  • Mining
    • How to Mine Bitcoin
    • Top Mining Software
    • Mining Articles
  • Tools
    • Live Crypto
    • Free Wallet
  • Live
  • Marketplace
  • Contact us

© 2022 cc.Link.

bitcoin
Bitcoin (BTC) $ 29,034.00 0.20%
ethereum
Ethereum (ETH) $ 1,784.11 1.81%
tether
Tether (USDT) $ 1.00 0.04%
usd-coin
USD Coin (USDC) $ 1.00 0.05%
xrp
XRP (XRP) $ 0.392638 1.15%
solana
Solana (SOL) $ 41.75 4.37%
terra-luna
Terra Luna Classic (LUNC) $ 0.000134 11.93%
cardano
Cardano (ADA) $ 0.466015 4.13%
polkadot
Polkadot (DOT) $ 9.82 6.61%
avalanche-2
Avalanche (AVAX) $ 22.29 7.62%
terrausd
TerraClassicUSD (USTC) $ 0.033783 63.63%
dogecoin
Dogecoin (DOGE) $ 0.078527 0.92%