About $625 million was stolen from the blockchain system that runs the popular NFT game Axie Infinity.
Ronin Network announced in its blog post on Tuesday that it lost 173,600 Ethereum and 25.5 million USDC. The organization is working with law enforcement, crypto forensic experts and its own investors to ensure that all funds are recovered or reimbursed.
Ronin Network announced on Tuesday that there is a vulnerability in the system used for Axie Infinity development studio Sky Mavis. Using this vulnerability, hackers were able to create their own private key and steal money from the system
Ronin Network said it has now increased security measures on all deposits and withdrawals to prevent future robberies.
Axie Infinity is one of the most popular NFT-based games on the market, and Sky Mavis claims to have seen $4 billion in NFT sales on the platform.
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