Hackers break into Axie Infinity's Ronin network, $600+ million stolen

One of the largest cryptocurrency hacks just occurred, with more than $600 million stolen from Axie Infinity's Ronin network.

Published Wed, Mar 30 2022 6:05 AM CDT   |   Updated Mon, Apr 25 2022 1:35 AM CDT

The network the famous cryptocurrency game Axie Infinity is built on has been hacked for more than $600 million in one of the biggest cryptocurrency hacks ever.

Hackers break into Axie Infinity's Ronin network, $600+ million stolen 01 | TweakTown.com

The Ronin Network created by Axie Infinity publisher Sky Mavis has recently been infiltrated by hackers who managed to steal $625 million worth of Ethereum and USDC. According to Axie Infinity co-founder Jeff Zirlin who took to stage at an NFT conference held in Los Angeles, "It is one of the bigger hacks in history" and that the team behind Axie Infinity and the Ronin Network "believe in a future of the internet that is open and owned by the users."

The Ronin Network elaborated on the hack in a newsletter posted to its Substack, where it explained that on March 23, 173,600 Ethereum and $25.5 million in USDC were stolen after the attacker used "hacked private keys in order to forge fake withdrawals". In response to the hack, the Ronin Network has announced that it's currently working with law enforcement officials as well as forensic cryptographers to recover the stolen funds.

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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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