Axie Infinity's sidechain Ronin exploited, resulting in a loss of 173,600 Ether and 25.5 million USDC.

Axie Infinity's sidechain Ronin exploited, resulting in losses; officials state that it is currently secure. Both the Ronin cross-chain bridge and Katana Dex have been temporarily suspended. Based on current prices, the losses amount to 173,600 ETH and 25.5 million USDC, approximately valued at $616 million.

Axie Infinity's sidechain Ronin exploited, resulting in losses; officials say it's secure for now. Currently, both the Ronin cross-chain bridge and Katana Dex have been temporarily suspended. Based on current prices, the losses amount to 173,600 Ethereum and 25.5 million USDC, approximately valued at $616 million.

According to the official report, five validator private keys were compromised; 4 Sky Mavis validators and 1 Axie DAO. Reportedly, Sky Mavis' Ronin chain currently consists of 9 validator nodes. To validate deposit or withdrawal events, five out of nine validators' signatures are required. The attacker managed to control four of Sky Mavis' Ronin validation nodes and one third-party validation node operated by Axie DAO. Most of the hacked funds are still in the hacker's wallet.

Recently, blockchain game Axie Infinity reduced the daily free transaction allowances for NFT holders to promote the use of the native token RON, causing RON token to drop by over 20% before deadline.

According to online records and 1, 2, the hacker completed the fund theft six days ago and transferred the funds to FTX and Crypto.com; officials only discovered it on 3/29 when users couldn't withdraw large sums via the cross-chain bridge.