The sidechain Ronin, which is involved in the popular blockchain-based game Axie Infinity, has suffered a hacker attack in which $625 million in cryptocurrencies has been stolen, the project has announced.
According to Ronin developers, the hacker has managed to steal 173,600 ETH, as well as $25.5 million in the stablecoin USDC.
The developers have disabled the Ronin cross-chain bridge and the non-custodial exchange Katana.
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The Block Research researcher Igor Igamberdiev has reported part of the funds have been sent to the centralized exchanges FTX and Crypto.com.
The project has reported through its blog the attacker exploited the vulnerability on March 23. To carry out the attack, the attacker managed to take control of five of the nine validators:
"The Sky Mavis team discovered a security breach last March 29 after reporting that a user was unable to withdraw 5,000 ETH from the bridge."