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Axie Infinity’s Ronin Bridge Hacked for Over $ 565,000,000 Damage

Apr 7, 2022

  • Axie Infinity’s Ronin Bridge suffered hacking damage of over 70 billion yen
  • Hacked on March 23, but discovered today by voice from users
  • Ronin Bridge and Katana DEX are currently suspended
  • Work with various institutions to regain funds
  • AXS, RON, SLP are safe

Axie Infinity’s “Ronin Bridge,” which led GameFi, has been hacked. 173600ETH and 25.5 million USDC leaked.

It was discovered today in response to a user’s voice saying that 5000ETH could not be withdrawn, but as of March 23, it seems that the Ronin validator node and the Axie DAO validator node had been hacked.

Hacked background

SkyMavis’ Ronin chain consists of nine validator nodes. A validator signature of 5/9 is required for deposits and withdrawals.

This time, Sky Mavis’s four Ronin Validators and Axie DAO’s validator were damaged.

The damage was triggered in November 2021 when Axie DAO was able to sign on behalf of SkyMavis to handle a huge number of user transactions. It was discontinued in December 2021, but apparently did not revoke access to the permit list.

Current response

  • Changed the required number of validator signatures to 8/9
  • Cooperation with many exchanges including Binance
  • Separate nodes from traditional infrastructure
  • Stop Ronin Bridge (scheduled to resume at a later date)
  • Pause Katana DEX
  • Monitor outflow funds in collaboration with Chainalysis

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