Global interest in cryptocurrencies has skyrocketed along with their value, but the money they represent has also become an attractive target for cunning thieves.
Ronin Network, a network linked to the Ethereum cryptocurrency specializing in gaming, said the attack targeting its blockchain generated 173,600 ethers and $25.5 million in stablecoin, a digital asset pegged to the US dollar.
The loot was initially valued at $545 million at the time of the robbery on March 23, but according to prices it was already around $615 million on Tuesday, making it one of the largest heists in the history of the cryptocurrencies.
“Most of the hacked funds are still in the hacker’s wallet,” Ronin said. in the publication that revealed the theft.
The team at Sky Mavis, developer of the game Axie Infinity, discovered the security breach on Tuesday when it unsuccessfully tried to remove ehter, according to the company.
Ronin is still investigating the attack, but said that hackers obtained private “keys” to withdraw digital funds.
“We know trust must be earned and we are using all the resources at our disposal to implement the most sophisticated security measures and processes to prevent future attacks,” Ronin said.
“We are working with court officials, forensic cryptographers and our investors to make sure user funds are not lost.”
On Axie Infinity, players participate in battles and receive rewards that can be exchanged for cryptocurrencies or cash.
To play you must buy at least three Axies, which are NFT (non-fungible tokens) and are stored in a blockchain or unchangeable digital ledger.
Whoever owns Axies can buy, sell or rent them to other players. Owners can also “breed” them to create new Axies with more value.
