Hackers have stolen cryptocurrencies worth $625 million from Ronin, a Blockchain platform that supports the blockchain video game Axie Infinity. Ronin network confirmed the hack in a blog post and confirmed that the Ronin bridge has been exploited for 173,600 Ethereum and 25.5M USDC.
The company claims that the attacker used hacked private keys in order to forge fake withdrawals and drained 173,600 Ethereum and 25.5M USDC in two transactions. The attacker’s Ethereum address is a fresh address and still has the majority of the funds remaining. It just transferred 6,250 ETH to various addresses.
Ronin has also temporarily paused the Ronin Bridge to ensure no further attack vectors remain open. The bridge will be opened later when the company believes that no funds can be drained. It is also working with Chainalysis to monitor the stolen funds.
