🚨 Ronin Network Hack of $620 Million – The Largest Hack in History 🚨
🔥 What Happened?
In March 2022, hackers attacked Ronin Network, a blockchain bridge for Axie Infinity, stealing $620 million (173,600 ETH and 25.5 million USDC).
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⚙️ How Did the Hack Occur?
🔹 Phishing Attack – Hackers compromised one of the former developers of Sky Mavis.
🔹 Validator Compromise – Gained control over 5 out of 9 nodes that sign transactions.
🔹 Fund Withdrawal – Transferred assets to anonymous wallets and partially laundered through Tornado Cash.
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🎭 Who Was Behind the Attack?
📌 The FBI accused the North Korean group Lazarus, known for hacking cryptocurrency exchanges.
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📉 How Did Sky Mavis and the Market Respond?
✅ Stopped the Ronin Bridge.
✅ Binance helped trace part of the stolen funds.
✅ Sky Mavis raised $150 million for compensation.
✅ Increased the number of validators and enhanced security.
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🔎 Conclusions
⚡ Blockchain bridges are one of the most vulnerable points in DeFi.
⚡ Phishing is a key tool for hackers.
⚡ Protecting validators and keys is a priority for projects.
This case demonstrated that even the largest platforms are not immune to attacks! 🔐💡