Sky Mavis Plans to Become a 'Zero-Trust Organization' in the Wake of the $600M Ronin Hack
This is a security stance in which the team will continuously search for new threats aimed against the game's author, Sky Mavis.
The team said,
"Our goal is to become a fully antifragile, zero-trust organization. Zero-trust is a framework that assumes that Sky Mavis is always at risk of external and internal threats,"
The March 23 incident, during which hackers stole more than 173,600 ether and 25.5 million USDC from its Ethereum-connected bridge, was mentioned in the report. The total loss was over $600 million, making it one of the most significant cryptos attacks ever.
The hackers were ultimately identified as the Lazarus Group, a North Korean hacking group.
Ronin Will Have a Total of 100 Validator Nodes
The Ronin team is now concentrating on revamping its still-closed cross-chain bridge and boosting the number of validators (entities that aid in transaction verification). The sidechain had nine validator nodes at the time of the security attack.
Four of the nine validators were taken over by the attackers. They began by stealing four validator keys from Sky Mavis. Another validator, this time belonging to Axie DAO, was hacked using a "gas-free signature." Following this, the hacker gang gained majority control (5/9 validators) and was able to send illegal funds from Ronin's Ethereum bridge.
Sky Mavis intends to increase the number of validator nodes to 21 in the next three months to have more than 100 nodes to boost sidechain security.
On the other hand, Sky Mavis secured $150 million from a group of investors, including Binance, a16z, and Paradigm, as part of its efforts to compensate harmed consumers.