Hackers have stolen about 600 million dollars, converted about 540 million euros, from blockchain network Ronin, which is linked to the popular online game Axie Infinity. It would be one of the largest crypto thefts to date.
The hack happened on March 23, but was only discovered on Tuesday.
Axie Infinity uses cryptocurrency. The hack happened in a part of the game whose software is not always reliable. Much of the software is left unchecked, making it easy for hackers to exploit weaknesses in computer codes. A specific piece of software in the game can move a lot of cryptocurrencies, but it is often not clear who exactly approves the transactions.
According to blockchain analytics firm Elliptic, the hackers managed to get hold of special private keys from some of the individuals who approve transactions. Experts are now calling for a system to be built in to track unauthorized transactions.
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It is now being looked at where the stolen money may be moved. This is being monitored by major cryptocurrency trading platforms and market researcher Chainalysis, Ronin said in a blog post. Ronin also says he is cooperating with the police because of the theft.
In February, a similar theft happened on another blockchain platform. About $300 million in cryptocurrencies was stolen in the process.
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