The Axie Infinity developers made some compromises that made a ronin break worth $ 625 million possible

The Axie Infinity developers made some compromises that made a ronin break worth $ 625 million possible

A week after one of the largest cryptocurrency hacks-a $ 625 million burglary into the Ronin Network Bridge-Sky Mavis, the company she built, recognized that its hurry to enlarge the user base of the platform could have led to the fact that it has made compromises with security.

The Ronin Network is a sidechain connected to Ethereum, which is used for the blockchain game Axie Infinity. The bridge it connects to the Ethereum-Minnet was exploited, and an attacker withdrawn 25.5 million USDC and 173,600 ETH on March 29, a total of about $ 625 million.

"While we fought for the acceptance by the mainstream, we received a few compromises that meant that we became susceptible to this type of attack," said Axie Infinity in A Blog entry . "This is a lesson that we have learned on the hard tour."

Sky Mavis announced a $ 150 million increased increase in $ 150 million in order to compensate for affected users. Other participants in the round are paradigm, Animoca Brands, Dialectic, Accel and Andreesesen Horowitz.

"Sky Mavis undertakes to reimburse all of our users lost and implement strict internal security measures to prevent future attacks," said Trung Nguyen, CEO from Sky Mavis, on Wednesday statement .

On Wednesday, Binance announced that it will resume the withdrawals and deposits in the Ronin network after it had suspended it last week.

"In order for the global ecosystem to thrive and mature, it is essential that we work together, especially when it comes to security, what our strength is," said Changpeng "CZ" Zhao, CEO of Binance, in an explanation.

of the stolen ether remain more than 170,000 ETH Angreers and thousands of ETH were transferred to Tornado Cash, a data protection tool for Ethereum.

"The ronin chain from Sky Mavis currently consists of 9 validation nodes. In order to recognize a deposit event or a payment event, five out of nine validator signatures are required", according to the injury Announcement . "The attacker managed to get control of the four Ronin validators from Sky Mavis and a third-party validator operated by Axie Dao."

The Ronin Network Bridge is reopened according to Sky Mavis as soon as it has been subjected to extensive audits and security upgrades, which can take several weeks.

In addition to the security improvements, Sky Mavis will increase the Validator group on 21 validators within the next three months, which are divided into different interest groups, including partners, community members and long-term allies.

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The article Axie Infinity Developers 'Made Some Trade-Offs' that Enabled $ 625m Ronin Breach is not a financial advice.