Details van de inbreuk
The Ronin Network team disclosed that the attack exploited Axie DAO and Sky Mavi’s Ronin validator nodes on March 23, 2022. The attacker forged fake withdrawals using compromised private keys. The breach came to light when a user reported being unable to withdraw 5,000 Ethereum (ETH) from the bridge.
The team is working with forensic cryptographers, law enforcement, and investors to recover the stolen funds. They emphasized enhanced security measures, ensuring that RON, Small Love Potions (SLP), and Axie Infinity Shards (AXS) on Ronin are now safe. Following the attack, AXS dropped nearly 9% in a day, SLP fell 11%, and RON plunged 20%.
Fate of the Stolen Assets
Elliptic reported that the hacker has begun laundering the stolen assets, with funds transferred to three major crypto exchanges. Analysis revealed that $16 million in Ethereum had been laundered, leaving $524 million in multiple Ethereum wallets likely controlled by the attacker.
Notable Crypto Hacks in History
The crypto industry has been marred by significant thefts and scams since 2011. Hackers have stolen increasingly larger amounts over the years. Major incidents include:
- PolyNetwork — $611 million
- Coincheck — $534 million
- Mt. Gox — $470 million
- Wormhole — $325 million
- KuCoin — $281 million
- BitMart — $225 million
- BitGrail — $146 million
- BXH — $140 million
- CreamFi — $130 million
Ronin ranks as the second-largest theft of crypto assets.
Strategies to Prevent Crypto Thefts
Although crypto platforms employ security measures, investors should protect their assets by storing them offline and using secure networks. Governments have also stepped up efforts to combat crypto thefts and scams. For example, the U.S. Department of Justice established the National Cryptocurrency Enforcement Team (NCET) in 2021 to thwart criminal activities in crypto transactions using advanced analytical tools.
The UK’s National Crime Agency is also investigating crypto-related crimes, while Interpol collaborates with law enforcement to disrupt illegal activities involving virtual assets. Additionally, blockchain technology and advanced analytical tools, like those used by Elliptic, assist authorities in tracing stolen funds over time.
Over Axie Infinity
Axie Infinity is a popular blockchain-based play-to-earn game developed by Sky Mavis, which also created the Ronin sidechain. The game features Pokémon-inspired creatures called Axies. Players collect these creatures, battle them in wars, breed them, and build kingdoms. To start playing, users must purchase three Axies using crypto assets.
