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đŽÂ Axie Infinity Hack: $620 Million Lost in Largest DeFi Exploit
In March 2022, the popular play-to-earn game Axie Infinity suffered a devastating attack on its Ronin Network, where hackers drained over $620 million in ETH and USDC â making it the largest DeFi hack in history.
đ§ The attackers used stolen private keys to forge withdrawals from the bridge that connected Ronin (Axieâs sidechain) to Ethereum. Whatâs worse: the breach went undetected for 6 days.
đ The incident shocked the crypto gaming world and raised urgent concerns about security in sidechains and validator node centralization.
đ ď¸ Sky Mavis, the team behind Axie, later raised funds and pledged to reimburse users. The hack was later linked to the Lazarus Group, a North Korean state-sponsored hacking unit.
â ď¸ The Axie hack remains a cautionary tale: even successful projects must prioritize security, decentralization, and proper audits.
đˇď¸ #AxieHack #RoninNetwork #DeFiSecurity #PlayToEarn #CryptoHistory
In March 2022, the popular play-to-earn game Axie Infinity suffered a devastating attack on its Ronin Network, where hackers drained over $620 million in ETH and USDC â making it the largest DeFi hack in history.
đ§ The attackers used stolen private keys to forge withdrawals from the bridge that connected Ronin (Axieâs sidechain) to Ethereum. Whatâs worse: the breach went undetected for 6 days.
đ The incident shocked the crypto gaming world and raised urgent concerns about security in sidechains and validator node centralization.
đ ď¸ Sky Mavis, the team behind Axie, later raised funds and pledged to reimburse users. The hack was later linked to the Lazarus Group, a North Korean state-sponsored hacking unit.
â ď¸ The Axie hack remains a cautionary tale: even successful projects must prioritize security, decentralization, and proper audits.
đˇď¸ #AxieHack #RoninNetwork #DeFiSecurity #PlayToEarn #CryptoHistory
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