Highlights

  • Axie Infinity has emerged as one of the most popular online games that uses blockchain technology as the basis for its in-game economy.

Latest news

Man says wife beats him up with bat in front of son, submits CCTV as proof | Alwar

Man says wife beats him up with bat in front of son, submits CCTV as proof | Alwar

IPL 2022 Qualifier 2 schedule, match timings, venue, orange and purple cap holders after RCB vs LSG match

IPL 2022 Qualifier 2 schedule, match timings, venue, orange and purple cap holders after RCB vs LSG match

IPL 2022, LSG vs RCB: Bangalore beat Lucknow by 14 runs in the Eliminator

IPL 2022, LSG vs RCB: Bangalore beat Lucknow by 14 runs in the Eliminator

Why USA won't make stricter gun laws despite Texas shooting - gun lobby, Republican, filibuster hurdles

Why USA won't make stricter gun laws despite Texas shooting - gun lobby, Republican, filibuster hurdles

'No petrol, cash in Lahore?': Pakistan ex-cricketer slams PM Shehbaz Sharif, Imran Khan

'No petrol, cash in Lahore?': Pakistan ex-cricketer slams PM Shehbaz Sharif, Imran Khan

Big crypto heist: $600 million stolen by hackers from online game

The computer code of many bridges are not audited, allowing for hackers to exploit vulnerabilities. 

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.

Up Next

Big crypto heist: $600 million stolen by hackers from online game

Big crypto heist: $600 million stolen by hackers from online game

Crypto is worth nothing! Europe's central bank chief seeks strict regulation

Crypto is worth nothing! Europe's central bank chief seeks strict regulation

SEBI cracks down on crypto, find out what the market regulator is saying

SEBI cracks down on crypto, find out what the market regulator is saying

Terra USD and LUNA: The whole fiasco explained

Terra USD and LUNA: The whole fiasco explained

Crypto carnage: Bitcoin below $35,000, crypto bets down 50% in value

Crypto carnage: Bitcoin below $35,000, crypto bets down 50% in value

Dubai crypto rush: What is making it the global crypto capital?

Dubai crypto rush: What is making it the global crypto capital?

More videos

Crypto latest news: WazirX founders shift to Dubai

Crypto latest news: WazirX founders shift to Dubai

Congress asks Amit Shah: is FBI in India to investigate India's Bitcoin scam

Congress asks Amit Shah: is FBI in India to investigate India's Bitcoin scam

Crypto tax at 30% in India | Explained

Crypto tax at 30% in India | Explained

Business News Live: Top 5 market headlines on April 4

Business News Live: Top 5 market headlines on April 4

Business News Live: Editorji brings you the top 5 market headlines on April 1

Business News Live: Editorji brings you the top 5 market headlines on April 1

Crypto heist: top 5 blockchain thefts of all time

Crypto heist: top 5 blockchain thefts of all time

Business News Live: Top market headlines on March 30

Business News Live: Top market headlines on March 30

Crypto tax: GST could soon be implemented on digital assets

Crypto tax: GST could soon be implemented on digital assets

Russia’s new pitch: Bitcoin for oil & gas, set to reject dollars & euro

Russia’s new pitch: Bitcoin for oil & gas, set to reject dollars & euro

Crypto warning to users: be ready to lose all your money says EU regulators

Crypto warning to users: be ready to lose all your money says EU regulators

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.