Hackers steal $620M in Ethereum and dollars from Axie Infinity maker Sky Mavis’ Ronin network
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Sky Mavis reported that the Ronin Network which supports its Axie Infinity game has been hacked and thieves stole 173,600 in Ethereum cryptocurrency (worth $594.6 million) and $25.5 million in U.S. dollars, stealing a total of $620 million.
If Sky Mavis, the maker of the Axie Infinity blockchain game, can’t recover the funds, that’s a huge hit to its overall treasury and a black eye for blockchain-based security, as the whole point of putting the game on the blockchain — in this case a Layer 2 network dubbed the Ronin Network — is to enable better security.
The Ronin bridge and Katana Dex enabling transactions have been halted. For now, that means that players who have funds stored on the network can’t access their money right now. The stolen funds only represent a portion of the overall holdings of Sky Mavis and its Axie decentralized autonomous organization (DAO).
“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,” said Sky Mavis in a statement.
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The hack will likely be considered one of the biggest hacks in cryptocurrency history, at least according to data from Comparitech.
The company said there was a security
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