It was reported by Ronin Network, a platform linked to the Ethereum crypto specializing in gaming. The attack was directed at its blockchain. 173,600 ethers and US$25.5 million were stolen. Axie Infinity is a digital ledger used by internauts of the popular Axie Infinity game, in one of the largest thefts of its kind.
The haul was initially valued at US$545 million at the time of the theft on March 23, but according to prices already reached around US$615 million on Tuesday, making it one of the largest thefts in cryptocurrency history. “Most of the hacked funds are still in the hacker’s wallet,” Ronin said in the publication that revealed the theft.
According to the company, the team at Sky Mavis, developer of the Axie Infinity game, discovered the security breach on Tuesday when it unsuccessfully tried to remove Ether.
Ronin is still investigating the attack, but said the hackers obtained private keys to withdraw digital funds. “We know trust must be earned and we are using all resources at our disposal to implement the most sophisticated security measures and processes to prevent future attacks,” Ronin said. “We are working with judicial officials, forensic cryptographers and our investors to ensure that users’ funds are not lost.”
In Axie Infinity, players participate in battles and receive rewards that they can exchange for cryptocurrencies or cash. To play they must buy a minimum of three Axies, which are NFT (non-fungible tokens) and are stored in an unmodifiable blockchain or digital ledger. Whoever owns Axies can buy, sell or rent them to other players. Owners can also “breed” them to create new Axies with more value.
The Ronin Network website is currently under maintenance and reads “Ronin Bridge is down so our engineers can work their magic. Thanks for your patience and visit Axie Discord for updates!”