In the second biggest crypto attack, the makers of one of the most popular blockchain-based online games said Tuesday that hackers were able to steal assets worth about $625 million from the gaming company and its players
Also read/ watch | GST on crypto soon?
Who was hacked?
Ronin, a blockchain service run by the owners of online game Axie Infinity which boasts of over 2 million daily users and has daily sales volume in millions.
Also read/ watch | Ola to be probed by government, burning issues go viral
Modus Operandi
The hackers took control of the network and sent 173,600 ethers to an anonymous ethereum wallet. They withdrew about $25.5 million of USD coin, which is digital currency pegged to the value of the dollar.
What next?
In its blog, Ronin said it’s in touch with major cryptocurrency exchanges and with blockchain tracer to monitor the move of the stolen funds. Ronin also said it’s working with law enforcement
Any recourse for the victims?
It’s not clear who was behind the hack as ethereum can easily be tracked as it is sent between digital wallets. In some recent thefts, hackers have agreed to return assets in return for a percentage of the value of the assets.