Security News > 2022 > March > $620 million in crypto stolen from Axie Infinity's Ronin bridge
A hacker has stolen almost $620 million in Ethereum and USDC tokens from Axie Infinity's Ronin network bridge, making it possibly the largest crypto hack in history.
Ronin is an Ethereum sidechain created by Sky Mavis to faciliate transactions for the Axie Infinity game, with the bridge acting as a way to transfer ERC-20 tokens between the Ethereum and Ronin blockchains.
Today, Sky Mavis disclosed that a threat actor hacked the Ronin bridge and stole 173,600 Ethereum and 25.5M USDC tokens in two transactions [1 and 2], worth $617 million at today's prices.
"Sky Mavis' Ronin chain currently consists of 9 validator nodes. In order to recognize a Deposit event or a Withdrawal event, five out of the nine validator signatures are needed. The attacker managed to get control over Sky Mavis's four Ronin Validators and a third-party validator run by Axie DAO," explains an advisory from the Ronin network.
While Sky Mavis states that all AXS, RON, and SLP tokens on Ronin are secure, all of the Ethereum and USDC deposits have been stolen by the attacker.
Sky Mavis has also shut down the Ronin Bridge and the Katana Dex as they investigate the attack.