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

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.

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.

If you are interested in reading more about this story, check out this link here.