Axie Infinity Loses Over $600 Over One Of The Greatest Crypto Hacks
Crypto hackers have their sights set on a new victim: the blockchain network supporting the popular video game Axie Infinity. The hackers made off with about $625 million worth of Ethereum and USDC, two cryptocurrencies, in what is one of the largest crypto hacks of all time.
Axie Infinity is a popular online video game that allows players to collect and battle digital creatures known as axies. The Ronin network is used to trade axies and other items within the game.
The hack occurred on December 3rd and impacted the Ronin network for Axie Infinity. This is a game that allows players to collect, raise, and battle virtual creatures called axis. Ronin is the name of the blockchain network that supports this game.
Axie Infinity released a statement on December 4th confirming the hack and stating that they are working with authorities to investigate. They also said that they will be using their own funds to reimburse players who lost money in the hack.
This is not the first time that Axie Infinity has been targeted by hackers. In October, the game’s website was hacked and user data was stolen.
The Ronin network for Axie Infinity is just one of many gaming-focused blockchains that have been targeted by hackers in recent months. Earlier this year, hackers stole $19 million from the Enjin network, which is used to power a number of popular games including Minecraft. And in November, hackers stole $180 million from the Bee Token network, which is used to support a number of different Ethereum-based games.
These hacks underscore the vulnerability of blockchain networks that are focused on gaming. These networks tend to be smaller and less well-known than networks that support more traditional forms of commerce, making them a target for hackers.
In a statement released on Wednesday, the developers said: “We are devastated by this news and we offer our deepest condolences to everyone who has lost their assets. We will do everything we can to recover the stolen funds and ensure that this doesn’t happen again.”
The theft is expected to have a significant impact on the game’s economy, as well as on the players who lost their assets in the attack. The developers have promised to reimburse all players who lost money in the hack.
The developers of these games need to do more to secure their networks and protect the players’ data. In the meantime, gamers should be cautious about using blockchains that are focused on gaming and make sure that they only store small amounts of money on these networks.
In light of this incident, it is more important than ever for video game players to ensure that their accounts are properly secured. So, be sure to take the necessary precautions and don’t store any sensitive information on unsecured platforms. These hacks underscore the importance of using strong passwords and two-factor authentication, and of keeping your cryptocurrencies in cold storage. If you’re not sure how to do that, consult a trusted crypto expert.