Hackers steal over $600 million from a video game

The latest crypto hack has targeted a gaming-focused blockchain network that supports the popular video game Axie Infinity. Hackers made off with about $625 million worth of Ethereum and USDC, two cryptocurrencies, in one of the largest crypto hacks of all time.

The hackers breached the Ronin Network, an independent and Ethereum-compatible blockchain developed by Axie Infinity publisher Sky Mavis.

Axie Infinity co-founder Jeff Zirlin discussed the hack on stage during a keynote address at the NFT LA conference.

“We realized the Ronin network has been exploited for 173,000 [Ethereum] and around 25 million dollars in USDC,” Zirlin said, under a screen with the words “State of the NFT Union: Where we are today and what’s next.” USDC is a so-called stable coin whose value is pegged to the US dollar.

“It is one of the bigger hacks in history,” he added while vowing to continue building. “We believe in a future of the internet that is open and owned by the users.

Last year, an anonymous hacker stole roughly $600 million in cryptocurrency from Poly Network, a decentralized finance network, in what was called the largest crypto heist in history. The hacker later gave it back.

The post Hackers steal over $600 million from a video game appeared first on The Khaama Press News Agency.