2025-01-21
SOCRadar
Major Cyberattacks Targeting Cryptocurrency & NFT Industry
#AxieInfinity
#BingX
#Coincheck
#Cryptocurrency
#DMM
#Lazarus
#WazirX
Axie Infinity
#AxieInfinity
- Reported: 2022-03
- Locations: Viet Nam
- Motivations: #FinancialGain
- Sectors: #Cryptocurrency
Summary
In March 2022, the Ronin Network, an Ethereum sidechain for Axie Infinity, suffered a $624 million hack. Attackers exploited the network’s limited decentralization, gaining control of five validators needed to authorize transactions. The breach went unnoticed for six days, during which the attackers withdrew 173,600 ETH and 25.5 million USDC. The vulnerability stemmed from a leftover access whitelist linked to Sky Mavis validators. The funds are mostly still in the attacker’s wallet, with some sent to exchanges.