Hackers steal over US$600 million in cryptocurrency from Axie Infinity game
- The firm’s digital ledger Ronin Network said 173,600 ether and US$25.5 million worth of stablecoin were targeted in one of major thefts ever in the crypto world
- It added most of the stolen funds are still in the hacker’s wallet
Hackers stole cryptocurrency worth over US$600 million from a digital ledger used by players of the popular online game Axie Infinity, in a major digital cash heist revealed on Tuesday.
Interest in cryptocurrency has boomed, along with its values, but the money has also become an attractive target for tech savvy thieves.
Ronin Network said the attack targeting its blockchain netted 173,600 ether and US$25.5 million worth of stablecoin, a digital asset pegged to the US dollar.
The haul was valued at US$545 million when it was stolen on March 23, but was worth about US$615 million based on prices on Tuesday, making it one of largest thefts ever in the cryptocurrency world.
“Most of the hacked funds are still in the hacker’s wallet,” Ronin said in a post revealing the theft.
The team at Sky Mavis, maker of battle and trading game Axie Infinity, discovered the security breach on Tuesday after a user was unable to withdraw ether, according to the company.