It’s being called “one of the biggest hacks in crypto history.” Granted, the history of crypto goes back just a few years, but that doesn’t take the sting off for the people wondering how $600 million in crypto disappeared this week.
Hackers took the crypto from a digital ledger that players of the online game Axie Infinity use. According to Ronin Network, the thieves got away with $615 million based on Tuesday’s crypto prices.
“Most of the hacked funds are still in the hacker’s wallet.“
Red flags went up on Tuesday when a user was unable to withdraw ether. Security was brought in, and Ronin realized they had a major problem, and they believed the hackers acquired private “keys” to withdraw the crypto.
“We know trust needs to be earned and are using every resource at our disposal to deploy the most sophisticated security measures and processes to prevent future attacks. We are working with law enforcement officials, forensic cryptographers, and our investors to make sure there is no loss of user funds.”
There are 2.5 million daily active users of the Axis Infinity game, and 35% of them live in the Philippines.
This will officially go down as the second-biggest hack ever, and crypto heists are becoming a big problem. In 2021, $14 billion is the total number of illicit cryptocurrency addresses received, an 80% increase from 2020.
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