Ronin – an EVM blockchain for play-to-earn games – recently fell victim to one of the largest hacks in the history of crypto. A whopping 173,600 ETH was drained from Ronin bridge within the last week, alongside another 25.5M USDC.
According to a community alert issued by Ronin, the hack occurred due to Ronin validator nodes and Axie DAO validator nodes being compromised.
This led to hacked private keys being used to forge two fake network withdrawals (1 and 2) that absorbed hundreds of millions in crypto from the bridge. The transactions took place on March 23rd – nearly a week ago, before being noticed today.
Ronin’s chain consists of 9 validator nodes – 5 of which must be used to recognize a deposit or withdrawal event.
“The attacker managed to get control over Sky Mavis’s four Ronin Validators and a third-party validator run by Axie DAO,” reads Ronin’s alert post.
The attacker reportedly located a backdoor through Ronin’s “gas-free RPC node,” which was used
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