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Jafrin Ahmed
Mar 30, 2022
by Jafrin Ahmed

Hackers Steals Over $650M from Axie Infinity’s Ronin Network

Axie Infinity ronin network hacked
The Ronin Network, a blockchain network that runs Sky Mavis' popular NFT game Axie Infinity, has been hacked, with about $625 million, the biggest yet in DeFi's history.

Biggest Hack in Crypto's 13 Year History

Overall, the attacker overall took 173,600 WETH worth nearly $597 million and 25.5 million USDC stablecoin worth $25.5 million, adding up to about $622 million worth of stolen crypto at the time of writing. Most of the stolen funds are still sitting in the hacker’s wallet though 6,250 ETH has been transferred to various other addresses.

Ron Token Crashed Following the News

Ronin and Axie Infinity operator Sky Mavis said that it has tapped law enforcement, forensic cryptographers at Chainalysis, and its own investors to “make sure all funds are recovered or reimbursed.”

Following the news, the price of RON, the native token of the Ronin network, is down 19.4% from the past 24 hours, according to CoinGecko.

The Ronin bridge hack appears to be similar to that of Poly Network when a hacker stole $611 million from the DeFi protocol though the majority of funds were ultimately returned.

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Ronin Network Hacked Axie Infinity Hacked Biggest DeFi hack Biggest Crypto Hack
Hackers Steals Over $650M from Axie Infinity’s Ronin Network
Jafrin Ahmed
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

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