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Ronin Validators Compromised
From roninblockchain.substack.com
There has been a security breach on the Ronin Network. Earlier today, we discovered that on March 23rd, Sky Mavis’s Ronin validator nodes and Axie DAO validator nodes were compromised resulting in 173,600 Ethereum and 25.5M USDC drained from the Ronin bridge in two transactions (1 and 2). The attacker used hacked private keys in order to forge fake withdrawals. We discovered the attack this morning after a report from a user being unable to withdraw 5k ETH from the bridge. Details About The Attack Sky Mavis’ Ronin chain currently consists of 9 validator nodes. In order to recognize a Deposit event or a Withdrawal ... (full story)
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Axie Infinity’s Ronin Network Suffers $625M Exploit
The latest crypto hack may be the largest yet. The gaming-focused Ronin Network announced Tuesday a loss of over $625 million in USDC and ETH. According to a blog post published by the Ronin Network’s official Substack, the exploit affected Ronin Network validator nodes for Sky Mavis, the publishers of the popular Axie Infinity game, and the Axie Dao. An attacker “used hacked private keys in order to forge fake withdrawals” from the Ronin bridge across two transactions. While the Ronin sidechain has nine validators requiring five signatures for withdrawals meant to protect against these types of attacks, the ... (full story)
High Impact
Breaking