Ronin Exploit, Largest Crypto Hack to Date
Contents
On March 29, 2022, the Axie Infinity sidechain Ronin Network issued a community warning regarding a security breach in their network. A total of 173,600 ETH and $25.5 million USDC were stolen from the Ronin Bridge, resulting in a loss of more than $610 million. The SlowMist security team conducted a post-mortem analysis of the incident, and these are our findings.
Relevant Information
The Ronin network is an Ethereum sidechain, created specifically for Axie Infinity. It is one of the largest play-to-earn games on the blockchain, with millions of users around the world. The Axie Infinity team, Sky Mavis, created this network to give its users a reliable, fast, and cheap network for conducting transactions. They concentrated on developing a game-first expansion strategy that would not only stand the test of time but would also meet the demands imposed by the rapid development of the game.
Hacker address:
0x098B716B8Aaf21512996dC57EB0615e2383E2f96
Attack Details
According to an official release …
Relevant Information
The Ronin network is an Ethereum sidechain, created specifically for Axie Infinity. It is one of the largest play-to-earn games on the blockchain, with millions of users around the world. The Axie Infinity team, Sky Mavis, created this network to give its users a reliable, fast, and cheap network for conducting transactions. They concentrated on developing a game-first expansion strategy that would not only stand the test of time but would also meet the demands imposed by the rapid development of the game.
Hacker address:
0x098B716B8Aaf21512996dC57EB0615e2383E2f96
Attack Details
According to an official release …