Thursday, September 28, 2023
  • Login
EthozEdge
No Result
View All Result
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0
Cryptocurrency Marketcap
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0
No Result
View All Result
EthozEdge
No Result
View All Result
Home EVM News Huobi Eco Chain

Hacker Snatches $615M from Axie Infinity’s Ronin Network

by ethozedge
March 30, 2022
in Huobi Eco Chain
Reading Time: 4 mins read
A A
0
Share on FacebookShare on Twitter


The blockchain used by the most popular play-to-earn game has been compromised, with the hacker taking over half a billion dollars.

Hackers are seemingly not shying away from breaching crypto projects despite the constant improvement of security protocols and government involvement in the industry.

On March 29th, the team behind the Ronin Network announced that their protocol was hit by a severe hack 6 days before they actually noticed it. Due to the hack, Ronin halted the operations of its bridge and paused the operations of the Katana DEX.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

There has been a security breach on the Ronin Network.https://t.co/ktAp9w5qpP

— Ronin (@Ronin_Network) March 29, 2022

The hack apparently cost the network 173.6K Ethereum, and $25.5 million worth of USDC, putting it at the top of the largest cryptocurrency hacks in 2022. While the hacked funds were approximated to be worth somewhere around $615 million at current prices, the estimated price at the time of the hack was about $552 million.

Ronin has already shed some light on the hack, which, actually, dates back to 2021 when the hacker got hold of a signature validator that gives access to the Sky Mavis (development team of Axie Infinity) systems.

In response to the hack, Ronin has also notified law enforcement agencies and is currently working with forensic cryptographers. FTX’s Sam Bankman-Fried and Binance’s Changpeng Zhao have also expressed support for the network, and are working with the Axie Infinity team to resolve the issue.

Our team is in touch with AxieInfinity team providing assistance in tracking this issue. https://t.co/pNU4wwrCAq

— CZ 🔶 Binance (@cz_binance) March 29, 2022

One Twitter user explained the hack in a bit more detail. According to him, the hacker managed to get hold of 5 Ronin’s validators which allowed him to perform the attack and gain access to the funds.

🏴‍☠️ RONIN HACK EXPLAINED THREAD 🏴‍☠️

Hackers have stolen 600 MILLION USD worth of Ether

Ronin is a side-chain of Ethereum (in which Axie Infinity operates). It’s secured by 9 validators and you only needed 5 (+50%) to attack the network

🧵 1/3 pic.twitter.com/A5qOgruTrC

— CaptainDefi.eth 🦇🔊 (@CaptainDefi2) March 29, 2022

Interestingly enough, crypto-journalist Igor Igamberdiev noticed that all of the funds were moved to popular crypto exchanges like FTX and Crypto.com, making the transactions fully traceable. 

However, some argued that the hacker most likely used stolen accounts with KYC on these crypto exchanges in order to cover the hacking trail and deceive law enforcement and crypto experts.

The trail of funds was recorded and posted by one Axie Infinity player on Twitter, showing that all the stolen crypto got also moved through other popular centralized exchanges like Binance and Huobi. 

Map of where the money from @Ronin_Network has been moved so far. Also, to everyone reporting that this was the biggest crypto hack of all time, please go check the price of eth at the time of the hack. It was 3032 and not 3400. Making the value of the hack $552,025,328 pic.twitter.com/HpQmdK8Xq9

— Maxbrand99.eth 🦇🔊 (@maxbrand99) March 29, 2022

This left users baffled whether this is some sophisticated plan to launder crypto through CEXs, or just an average joe stumbling upon an exploit and making a digital robbery in broad daylight.

This might be considered the biggest crypto heist to date if the hacker actually manages to successfully launder the funds, which is highly unlikely. The current title of the largest crypto hack is held by the Poly Network, which, back in 2021, suffered from a $600 million loss. However, the people behind the breach turned out to be white hat hackers, who later returned the funds.

Dom Z. - Crypto Analyst

by Dom Z. – Crypto Analyst, BitDegree






Source link

Tags: 615MAxiebitcoin newscrypto analysiscrypto newsEthoz EdgeHackerInfinitysLatest bitcoin newslatest crypto newsnetworkRoninSnatches
Share76Tweet47

Related Posts

Is ELLIPAL Better Than Ledger?

by ethozedge
September 27, 2023
0

If you’ve been in the cryptocurrency space long enough, you likely understand the importance of safeguarding your digital assets. A...

CZ To Help HTX Track Stolen Funds, Appoints Binance Security Team to Investigate

by ethozedge
September 26, 2023
0

HTX, formerly Huobi Global, was exploited recently for almost $8 million. Following the incident, Binance CEO Changpeng Zhao (CZ) has...

hacker offered 5% as a white hat incentive

by ethozedge
September 26, 2023
0

HTX cryptocurrency exchange was formerly Huobi. The hacker made away with ETH worth around $7.9 million. HTX’s native token experienced...

Hong Kong’s Crypto Firm Suffers $200 Million Hack

by ethozedge
September 25, 2023
0

Hong Kong-based Mixin Network, a blockchain protocol aiming to tackle scalability challenges, has fallen victim to a massive cyberattack resulting...

Binance CEO Teases Justin Sun Over Huobi’s Name Change Amid $7.9 Million Hack, Offers Hand In Tracking Stolen Assets

by ethozedge
September 25, 2023
0

Crypto exchanges often find themselves struggling with hackers. But amidst the challenges, there’s always room for a little banter, especially...

Load More
  • Trending
  • Comments
  • Latest

🔴 Bank of America Bets on Crypto

April 11, 2022

Pomelo Launches Family Credit Cards to Combine Credit and International Money Transfer

August 16, 2022

How to Add Polygon (MATIC) to Your MetaMask Wallet

May 28, 2022

The Sandbox Price Prediction 2022-2030: HODL or DUMP?

May 25, 2022

Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’

0

At least 54 apes were stolen in BAYC Instagram hack

0

Binance Introduces New Crypto Card for Ukrainian Refugees

0

55,000 Meta Cricket League NFTs sell out in nine minutes

0

JPMorgan, Citi Among Banking Giants Abuzz About Tokenization of Real-World Assets (RWA) as DeFi Craves Collateral

September 28, 2023

Report Reveals Crypto Whale Center With Majority Of Transactions Crossing $1 Million

September 28, 2023

Marathon Digital Admits to Mining an Invalid Bitcoin Block

September 28, 2023

What Is Toncoin (TON)? Everything You Need To Know

September 28, 2023
Facebook Twitter LinkedIn Tumblr RSS
EthozEdge

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at EthozEdge

CATEGORIES

  • Altcoin News
  • Avalanche Network
  • Binance Smart Chain
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Mining
  • Crypto Regulation News
  • DeFi
  • Ethereum
  • EVM News
  • Fantom Opera Chain
  • Harmony Chain
  • Huobi Eco Chain
  • Metaverse
  • NFT
  • Polygon Chain
  • Scam News
  • Web 3.0
  • XDai Chain

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - EthozEdge.
EthozEdge The Crypto is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0

Copyright © 2022 - EthozEdge.
EthozEdge The Crypto is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • JDBJDB(JDB)$0.021575-0.61%
  • bitcoinBitcoin(BTC)$26,990.002.79%
  • ethereumEthereum(ETH)$1,648.283.42%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.000.00%
  • binancecoinBNB(BNB)$214.811.67%
  • rippleXRP(XRP)$0.511.49%
  • usd-coinUSDC(USDC)$1.00-0.02%
  • staked-etherLido Staked Ether(STETH)$1,650.693.54%
  • cardanoCardano(ADA)$0.2486281.61%
  • dogecoinDogecoin(DOGE)$0.0612481.59%
  • solanaSolana(SOL)$19.673.76%
  • ToncoinToncoin(TON)$2.244.18%
  • tronTRON(TRX)$0.0863011.10%
  • Wrapped stETHWrapped stETH(WSTETH)$1,865.020.37%
  • polkadotPolkadot(DOT)$4.062.31%
  • matic-networkPolygon(MATIC)$0.522.97%
  • litecoinLitecoin(LTC)$65.062.62%
  • bitcoin-cashBitcoin Cash(BCH)$237.683.98%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$27,020.003.23%
  • chainlinkChainlink(LINK)$7.822.10%
  • shiba-inuShiba Inu(SHIB)$0.0000071.33%
  • daiDai(DAI)$1.00-0.03%
  • true-usdTrueUSD(TUSD)$1.000.09%
  • leo-tokenLEO Token(LEO)$3.66-0.38%
  • uniswapUniswap(UNI)$4.404.42%
  • avalanche-2Avalanche(AVAX)$9.213.53%
  • stellarStellar(XLM)$0.1133221.48%
  • moneroMonero(XMR)$145.44-0.46%
  • okbOKB(OKB)$43.060.66%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • binance-usdBUSD(BUSD)$1.000.03%
  • ethereum-classicEthereum Classic(ETC)$15.782.95%
  • BSCEXBSCEX(BSCX)$237.310.49%
  • cosmosCosmos Hub(ATOM)$7.092.07%
  • hedera-hashgraphHedera(HBAR)$0.0494830.73%
  • filecoinFilecoin(FIL)$3.283.07%
  • GGTKNGGTKN(GGTKN)$0.1121310.76%
  • lido-daoLido DAO(LDO)$1.599.09%
  • internet-computerInternet Computer(ICP)$3.065.03%
  • makerMaker(MKR)$1,508.962.63%
  • crypto-com-chainCronos(CRO)$0.0505981.01%
  • quant-networkQuant(QNT)$89.320.81%
  • MantleMantle(MNT)$0.3958532.31%
  • AptosAptos(APT)$5.311.03%
  • vechainVeChain(VET)$0.0168462.80%
  • ArbitrumArbitrum(ARB)$0.888.46%
  • optimismOptimism(OP)$1.324.23%
  • nearNEAR Protocol(NEAR)$1.102.97%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • KaspaKaspa(KAS)$0.0470610.84%
  • aaveAave(AAVE)$65.639.24%
  • Rocket Pool ETHRocket Pool ETH(RETH)$1,789.323.30%
  • BitDAOBitDAO(BIT)$0.592.96%
  • the-graphThe Graph(GRT)$0.0866521.92%
  • algorandAlgorand(ALGO)$0.0972482.00%
  • WhiteBIT CoinWhiteBIT Coin(WBT)$5.18-0.14%
  • usddUSDD(USDD)$1.000.14%
  • blockstackStacks(STX)$0.4805835.63%
  • xdce-crowd-saleXDC Network(XDC)$0.048871-1.95%
  • fraxFrax(FRAX)$1.00-0.04%
  • immutable-xImmutableX(IMX)$0.571.43%
  • havvenSynthetix Network(SNX)$2.062.29%
  • sapphireSapphire(SAPP)$0.7035.32%
  • elrond-erd-2MultiversX(EGLD)$24.684.86%
  • theta-tokenTheta Network(THETA)$0.642.55%
  • eosEOS(EOS)$0.572.02%
  • Bitget TokenBitget Token(BGB)$0.4560951.35%
  • tezosTezos(XTZ)$0.662.26%
  • the-sandboxThe Sandbox(SAND)$0.3041011.84%
  • CloutContractsCloutContracts(CCS)$52.461,000.00%
  • radixRadix(XRD)$0.060381-3.51%
  • bitcoin-cash-svBitcoin SV(BSV)$31.931.76%
  • injective-protocolInjective(INJ)$7.241.90%
  • axie-infinityAxie Infinity(AXS)$4.501.52%
  • thorchainTHORChain(RUNE)$1.9212.10%
  • render-tokenRender(RNDR)$1.513.03%
  • decentralandDecentraland(MANA)$0.2968311.74%
  • fantomFantom(FTM)$0.1882161.61%
  • neoNEO(NEO)$7.302.31%
  • marumaruNFTmarumaruNFT(MARU)$0.25242622.62%
  • kavaKava(KAVA)$0.632.36%
  • gatechain-tokenGate(GT)$3.64-5.58%
  • ecasheCash(XEC)$0.0000251.86%
  • paxos-standardPax Dollar(USDP)$1.00-0.02%
  • compound-ethercETH(CETH)$33.294.00%
  • pax-goldPAX Gold(PAXG)$1,871.63-0.39%
  • flowFlow(FLOW)$0.4471681.68%
  • tether-goldTether Gold(XAUT)$1,865.31-0.73%
  • binaryxBinaryX(BNX)$165.94-5.94%
  • curve-dao-tokenCurve DAO(CRV)$0.520.94%
  • Halo CoinHalo Coin(HALO)$0.057352-0.04%
  • kucoin-sharesKuCoin(KCS)$4.602.70%
  • convex-crvConvex CRV(CVXCRV)$1.47183.77%
  • frax-shareFrax Share(FXS)$5.943.47%
  • apecoinApeCoin(APE)$1.197.57%
  • rocket-poolRocket Pool(RPL)$22.021.08%
  • Frax EtherFrax Ether(FRXETH)$1,647.983.55%
  • iotaIOTA(MIOTA)$0.1522982.76%
  • Rollbit CoinRollbit Coin(RLB)$0.12372814.60%
  • chilizChiliz(CHZ)$0.0582472.31%
  • Tokenize XchangeTokenize Xchange(TKX)$4.851.57%
  • First Digital USDFirst Digital USD(FDUSD)$1.000.23%
  • huobi-tokenHuobi(HT)$2.41-0.12%
  • terra-lunaTerra Luna Classic(LUNC)$0.000064-0.70%
  • mina-protocolMina Protocol(MINA)$0.3750862.04%
  • bittorrentBitTorrent(BTT)$0.0000001.55%
  • klay-tokenKlaytn(KLAY)$0.1132431.44%
  • DogechainDogechain(DC)$0.001787-24.98%
  • galaGALA(GALA)$0.0134342.15%
  • casper-networkCasper Network(CSPR)$0.0311810.57%
  • SuiSui(SUI)$0.4461662.95%
  • gmxGMX(GMX)$37.455.70%
  • dydxdYdX(DYDX)$1.932.85%
  • Coinbase Wrapped Staked ETHCoinbase Wrapped Staked ETH(CBETH)$1,724.613.20%
  • compound-governance-tokenCompound(COMP)$48.7520.84%
  • trust-wallet-tokenTrust Wallet(TWT)$0.772.52%
  • Nexus MutualNexus Mutual(NXM)$47.533.53%
  • Staked Frax EtherStaked Frax Ether(SFRXETH)$1,745.503.56%
  • apenftAPENFT(NFT)$0.0000000.67%
  • nexoNEXO(NEXO)$0.55-1.96%
  • dashDash(DASH)$26.822.29%
  • PepePepe(PEPE)$0.0000010.18%
  • CyberHarborCyberHarbor(CHT)$10.12-49.84%
  • gemini-dollarGemini Dollar(GUSD)$1.00-0.07%
  • woo-networkWOO Network(WOO)$0.1658841.88%
  • WEMIXWEMIX(WEMIX)$0.91-1.41%
  • zilliqaZilliqa(ZIL)$0.0169761.78%
  • safemoonSafeMoon [OLD](SAFEMOON)$0.0000000.05%
  • Shib Original VisionShib Original Vision(SOV)$0.00000012.40%
  • 1inch1inch(1INCH)$0.2675834.53%
  • arweaveArweave(AR)$4.202.56%
  • FlareFlare(FLR)$0.010853-0.13%
  • pancakeswap-tokenPancakeSwap(CAKE)$1.171.72%
  • conflux-tokenConflux(CFX)$0.1245582.17%
  • gnosisGnosis(GNO)$100.363.18%
  • liquity-usdLiquity USD(LUSD)$0.99-0.01%
  • basic-attention-tokenBasic Attention(BAT)$0.1728162.95%
  • AstarAstar(ASTR)$0.0486044.54%
  • IdeaChainIdeaChain(ICH)$4.730.00%
  • ftx-tokenFTX(FTT)$1.89-21.52%
  • Crypto Gladiator LeagueCrypto Gladiator League(CGL)$0.16194440.57%
  • Utility Web3ShotUtility Web3Shot(UW3S)$0.4725710.00%
  • convex-financeConvex Finance(CVX)$3.05-0.15%
  • flex-coinFLEX Coin(FLEX)$2.48357.01%
  • tomiNettomiNet(TOMI)$3.26-0.12%
  • huobi-btcHuobi BTC(HBTC)$26,958.002.71%
  • SafePalSafePal(SFP)$0.571.26%
  • WorldcoinWorldcoin(WLD)$1.792.40%
  • illuviumIlluvium(ILV)$39.973.05%
  • bitcoin-goldBitcoin Gold(BTG)$13.321.18%
  • qtumQtum(QTUM)$2.223.52%
  • oec-tokenOKT Chain(OKT)$13.042.07%
  • Manchester City Fan TokenManchester City Fan Token(CITY)$11.87-1.78%
  • nemNEM(XEM)$0.0257342.90%
  • chiaChia(XCH)$26.941.11%
  • celoCelo(CELO)$0.4506392.08%
  • world-mobile-tokenWorld Mobile Token(WMT)$0.2920233.33%
  • compound-usd-coincUSDC(CUSDC)$0.0230760.04%
  • escoin-tokenEscoin(ELG)$2.68-0.37%
  • Meerkat SharesMeerkat Shares(MSHARE)$11,715.17-5.03%
  • fetch-aiFetch.ai(FET)$0.2165983.15%
  • mx-tokenMX(MX)$2.243.99%
  • DeFiChainDeFiChain(DFI)$0.2969202.15%
  • ecomiECOMI(OMI)$0.0008250.51%
  • compound-usdtcUSDT(CUSDT)$0.0190980.00%
  • enjincoinEnjin Coin(ENJ)$0.2215270.80%
  • singularitynetSingularityNET(AGIX)$0.1787972.12%
  • Staked LunaStaked Luna(STLUNA)$88.35-0.49%
  • tether-eurtEuro Tether(EURT)$1.06-0.02%
  • loopringLoopring(LRC)$0.1747182.03%
  • mask-networkMask Network(MASK)$2.653.77%
  • SeiSei(SEI)$0.1196493.02%
  • decredDecred(DCR)$13.573.00%
  • theta-fuelTheta Fuel(TFUEL)$0.0334571.75%
  • Bone ShibaSwapBone ShibaSwap(BONE)$0.84-2.42%
  • Access ProtocolAccess Protocol(ACS)$0.002065-3.42%
  • oasis-networkOasis Network(ROSE)$0.0411961.59%
  • zcashZcash(ZEC)$26.281.37%
  • heliumHelium(HNT)$1.430.92%
  • Ankr Staked ETHAnkr Staked ETH(ANKRETH)$1,925.73-2.13%
  • aragonAragon(ANT)$5.104.19%
  • terra-luna-2Terra(LUNA)$0.52-4.51%
  • justJUST(JST)$0.0225702.27%
  • telosTelos(TLOS)$0.76-4.60%
  • CoinmetroCoinmetro(XCM)$0.66506.72%
  • olympusOlympus(OHM)$11.36-0.37%
  • ethereum-name-serviceEthereum Name Service(ENS)$7.542.39%
  • Aleph ZeroAleph Zero(AZERO)$0.801.90%
  • osmosisOsmosis(OSMO)$0.3114032.45%
  • ankrAnkr Network(ANKR)$0.0192471.91%
  • SifchainSifchain(EROWAN)$0.154725-4.65%
  • BeldexBeldex(BDX)$0.0332541.19%
  • FUBT TokenFUBT Token(FUC)$2.09-1.05%
  • moonbeamMoonbeam(GLMR)$0.244658-3.67%
  • akash-networkAkash Network(AKT)$0.848.48%
  • BolideBolide(BLID)$0.029333-6.99%
  • holotokenHolo(HOT)$0.0010301.08%
  • stepnSTEPN(GMT)$0.1533272.74%
  • DEIDEI(DEI)$1.000.13%