Ronin

when

Axie Infinity

Tornado

<p>In a recent development, Jeffrey Zirlin, co-founder of Sky Mavis, the company behind the popular <a href="https://www.cryptopolitan.com/avalanche-blockchain-faces-technical/" rel="noopener noreferrer nofollow">blockchain</a>-based game Axie Infinity, has confirmed that two of his wallets fell victim to a hacking incident on Friday.&nbsp;</p>
<p>However, Zirlin moved swiftly to assure the public that the security breach did not extend to the Ronin sidechain, which hosts the Axie Infinity game.</p>
<h2 class="wp-block-heading" id="ronin-chain-unaffected-by-security-breach">Ronin chain unaffected by security breach</h2>
<p>Zirlin emphasized that the hacking incident was limited to his accounts and reiterated that it had no bearing on the validation or operations of the Ronin chain. The compromised keys, he clarified, were unrelated to Sky Mavis operations, and the chain-related activities continue to uphold strict security measures.</p>
<p>Blockchain security firm PeckShield disclosed that a significant “whale wallet” was the primary target of the attack. Speculation arose concerning the integrity of the Ronin Bridge, with questions raised about its susceptibility to hacking.&nbsp;</p>
<p>Approximately 3,248 <a href="https://twitter.com/PeckShieldAlert/status/1760843091916042439" rel="noopener noreferrer nofollow" target="_blank">ETH</a>, valued at $9.7 million, was illicitly withdrawn from the Ronin Bridge and funneled into the crypto mixer Tornado Cash.</p>
<h2 class="wp-block-heading" id="ronin-bridge-security-and-assurance">Ronin Bridge security and assurance</h2>
<p>Aleksander Leonard Larsen, Zirlin’s counterpart and co-founder at Sky Mavis, echoed Zirlin’s sentiments, confirming that the Ronin Bridge remained secure. Larsen emphasized that the compromised wallet represented an isolated incident akin to occurrences on other blockchain networks.&nbsp;</p>
<p>He further asserted the robust security measures in place, stating that the bridge undergoes rigorous audits and automatically halts operations when significant withdrawals occur.</p>
<h2 class="wp-block-heading" id="decrease-in-crypto-hacks-despite-significant-incidents-in-2023">Decrease in crypto hacks despite significant incidents in 2023</h2>
<p>The hacking incident involving Zirlin’s wallets comes amidst a broader landscape of cybersecurity challenges within the <a href="https://www.cryptopolitan.com/andreessen-horowitz-100m-crypto-newcomer/" rel="noopener noreferrer nofollow">crypto</a> space. In January 2023, PeckShield reported over 600 major hacks, resulting in approximately $2.61 billion in losses.&nbsp;</p>
<p>However, despite these significant incidents, the report highlighted a 27.8% decrease in crypto hacks and scams compared to the previous year.</p>

Axie Infinity co-founder’s wallets were compromised in a hacking incident

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