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


  • Axie Infinity co-founder’s wallets got hacked, but the game’s Ronin sidechain remains safe.
  • A significant amount of Ethereum was stolen from the Ronin Bridge and sent to a crypto mixer.
  • Despite a decrease in crypto hacks, the incident highlights ongoing security challenges in the industry.

In a recent development, Jeffrey Zirlin, co-founder of Sky Mavis, the company behind the popular blockchain-based game Axie Infinity, has confirmed that two of his wallets fell victim to a hacking incident on Friday. 

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.

Ronin chain unaffected by security breach

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.

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. 

Approximately 3,248 ETH, valued at $9.7 million, was illicitly withdrawn from the Ronin Bridge and funneled into the crypto mixer Tornado Cash.

Ronin Bridge security and assurance

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. 

He further asserted the robust security measures in place, stating that the bridge undergoes rigorous audits and automatically halts operations when significant withdrawals occur.

Decrease in crypto hacks despite significant incidents in 2023

The hacking incident involving Zirlin’s wallets comes amidst a broader landscape of cybersecurity challenges within the crypto space. In January 2023, PeckShield reported over 600 major hacks, resulting in approximately $2.61 billion in losses. 

However, despite these significant incidents, the report highlighted a 27.8% decrease in crypto hacks and scams compared to the previous year.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Ibrahim Abdulaziz

A fervent advocate, Ibrahim shares his wealth of knowledge on crypto and blockchain technology in an engaging and informative style. He frequents places where influencers gather for his next scoop. His vision is that the decentralized nature, security features, and potential for financial inclusion will drive widespread massive crypto adoption.

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