Ronin is a cryptomonator system on which the “Axie Infinity” very popular video game is based. Ether and USDC were fraudulently transferred for a value, at the current price, more than $ 600 million.
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Less than two months after one or more hackers have managed to outliest nearly $ 320 million (€ 289 million) in cryptomonniae, another platform of this decentralized economy has suffered a spectacular flight , of which The amount, the current price, this time amounts to more than $ 600 million (€ 543 million).
Tuesday, March 29, The Ronin network has announced in a communiqué that security flaws had allowed attackers to carry out unauthorized transactions to transfer very large sums: 173 600 ether (ETH) and more than 25 million. ‘USDC (a cryptomonnah whose course is modeled on the US dollar and less conducive to sudden increases and falls).
The Ronin network is a cryptomonator system on which the very popular Axie Infinity video game is based, in which you can make money. The flight revealed Tuesday, March 29 concerns Ronin’s “Bridge” (“Bridge”), a tool that allows conversions of a cryptomonnaie to another.
According to Ronin’s release, an attacker managed to trap the transaction validation system, which allows, in theory, to prevent fraudulent transfers from cryptomonni. The person behind this hacking has managed to compromise private keys used by Ronin and Sky Mavies, the parent company of Axie Infinity, to validate important transactions and thus fly vast amounts of cryptomonnaires.
The piracy took place on March 23 but was only discovered the following week, after a user contacted Ronin to explain that he could not withdraw funds in Ether on the network. In its statement, Ronin explains to be in discussion with Sky Mavies investors to ensure that users can retrieve the funds that were stolen.
A critical area of cryptomonnaires
The “bridges” are a very important and sensitive element of the cryptomonnaium ecosystem: there are funds for exchanges against other cryptomonnies, but the initial amounts used remain guaranteed. If the latter disappears, then the exchanged cryptomonnaires may lose their value. On February 2, the Wormhole Bridge has thus undergone a hacking that allowed one or more attackers to make fraudulent transactions and fly nearly $ 320 million in cryptomonniums. At the time, one of the main investors of Wormhole had bailed up the platform to not endanger the funds that had been converted.
The “breakage” suffered by Ronin is one of the most important in the history of cryptomonnies, in the image of the one who, in 2021, made you lose 600 million dollars with Poly Network , a decentralized finance platform. For Elliptic company, specializing in analysis From the cryptomonnary market, it is this flight that remains the most important: if the floated funds at Ronin today equivalent to nearly $ 615 million, their value was 540 million at the time of hacking, the March 23rd.
In another case, on February 8, the US authorities announced the arrest of two suspected persons to have wanted to whiten funds stolen at the BitFinex platform in 2016. At the time, nearly 120,000 Bitcoins – worth about $ 72 million – had been sublocked. Today, their virtual value approaches $ 5.6 billion, about € 5 billion.