Tag: ronin network

Apr 28 2022

Ronin Network to Increase Validator Nodes to 21, Introduce $1M Bug Bounty and Audits to Prevent the Next DeFi Hack

Summary: The Ronin Network team has published a postmortem report on the exploit that happened on March 23rd The report explains that a Sky Mavis employees are under constant advanced spear-phishing attacks on various social networks One employee was compromised, leading to access to 4 of Sky Mavis' validator nodes Moving forward, Sky Mavis plans to work with top tier security networks, increasing...

Apr 24 2022

Axie Infinity Hackers Transfer 33.5k ETH to a New Ethereum Address as the US Treasury Intensifies Sanctions

Summary: The Ronin Network, Axie Infinity hackers, have transferred 33,568.152 ETH to a new address 61,253.416 ETH now remains in the Ethereum address that stored the initial funds from the hack The US Treasury has intensified sanctions aimed at blocking Ethereum addresses associated with the hack Decentralized mixing platforms such as Tornado Cash have complied with the sanctions The Ronin Network, Axie Infinity...

Apr 23 2022

U.S. Sanctions More North Korean ETH Addresses Over $600M Ronin Hack

The U.S. Department of the Treasury last week connected North Korean hacking organization Lazarus to an ETH wallet used in last month's $622 million Ronin Network hack, a sidechain established for the play-to-earn game Axie Infinity. Now, the Treasury Department's Office of Foreign Asset Control (OFAC) has added three Ethereum addresses to its blacklist, including an address already named as being associated with...

Apr 20 2022

$205M in ETH Stolen in the Ronin Bridge Hack Has Already Been Moved

In late March, the Ronin Network was exploited for more than $600 million worth of Ethereum in what was the largest DeFi attack to date. At the time, the team behind the Ethereum-linked sidechain of the popular crypto game Axie Infinity stated that the attacker gained access to the majority of validators nodes and was able to sign transactions, and made away with...

Apr 08 2022

Binance Leads $150M Sky Mavis Funding Round to Help Reimburse Ronin Hack Victims

On Wednesday, Binance announced that it had led Sky Mavis’ $150 million financing round, which saw the participation of a number of prominent crypto- focused investors, including Animoca Brands, a16z, Dialectic, and Paradigm.

Mar 30 2022

Axie Infinity’s Sidechain Ronin Network Hacked for $615M Worth of ETH and USDC

Ronin Network, the Ethereum-linked sidechain of the popular crypto game Axie Infinity has been exploited for $625 million worth of Ethereum and USD Coin. The team wrote in a statement that the attacker gained access to five of the nine Ronin chain's validator nodes (4 Sky Mavis validators and 1 Axie DAO), which granted the attacker the ability to sign transactions and ultimately...

Mar 29 2022

Ronin Network Hacked for 173.6k Ethereum and 25.5M USDC

Summary: The Ronin (RON) network has experienced a security breach The compromise has resulted in the loss of 173,600 Ethereum and 25.5 million USD Coin (USDC) The hack happened on the 23rd of March through the use of private keys to forge fake withdrawals The team has halted the Ronin bridge and Katana DEX Law enforcement and Chainalysis has been involved in the...

Jan 28 2022

Creators of Axie Infinity Launch Governance Token for Ronin Network, Axie’s NFT Owners Get Free RON Transactions

Sky Mavis, the creators and developers of play-to-earn (P2E) sensation Axie Infinity (AXS), have launched a governance token for its Ethereum sidechain the Ronin Network. The RON token will be used to pay for gas fees on Ronin, while providing several decentralized finance (DeFi) extras, including staking and community governance.

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