Sadchan Ronin lost crypto assets on $625 Milln because of a hacker attack – Bits Media

Sadchain developers Ronin Network, Axie Infinity, reported a hacker attack, During which the attackers managed to hack closed keys and steal 173 600 ETH и 25.5 Milln USDC.

According to the publication of Ronin Network, Ronin Sky Mavis and Axie DAO Completed more 23 Martha. Now the Ronin Sky Mavis network consists of 9 validators' nodes. For a deposit or withdrawal of funds, five of the nine signatures of the validator are needed, To limit the attack vector.

The attacker managed to gain control over the four validators of Ronin Sky Mavis. He found Bekdor through the RPC node, Having received the signature of a third -party validator Axie DAO. In this way, The hacker took possession of the five closed keys of the validators.

Ronin Network explained, that in November, Axie DAO included Sky Mavis in the white list to sign various transactions on her behalf. It stopped in December 2021 of the year, But access to the white list remained.

As a result, In just two transactions, the hacker withdrew 173 600 ETH и 25.5 Milln USDC, the total cost of which is about $625 million. This has become the largest hacking in the history of the decentralized finance industry (DeFi). The attack was discovered only 29 Martha, When the user reported, which cannot withdraw from the "bridge" 5 000 ETH.

Developers cooperate with law enforcement agencies and cryptocurrency specialists to return funds to injured investors. The analytical company Chainalysis connected to track the stolen crypto assets to the process. All AXS, Ron and SLP on Ronin are safe.

The project team takes measures to protect against further attacks, increasing the number of validators from five to eight. Over time, their number will increase. Migration of nodes is also carried out, to completely separate them from the old infrastructure. Developers interact on this issue with large cryptocurrency exchanges.

The work of the Ronin bridge is suspended, Binance trading platform also turned off its bridge to Ronin. It will be open, As soon as experts are convinced of the safety of funds. The work was temporarily stopped with the Katana dex exchange, To prevent arbitration transactions and entering funds in Ronin Network.

Recall, What in August 2021 year, a hacking of the Defi Poly Network project took place in the amount $611 million, with whom the recent hack can be compared by its scale. Later the hacker began to return the funds, stolen by Poly Network.