In a huge digital cash robbery reported on Tuesday, hackers stole cryptocurrency worth over $600 million from a digital ledger used by players of the popular online game Axie Infinity.
Cryptocurrency has grown in popularity, along with its values, but the money has also become a tempting target for tech-savvy crooks.
Ronin Network revealed that the attack on its blockchain netted 173,600 ether and $25.5 million in stablecoin, a digital asset pegged to the US dollar.
The haul was worth $545 million when it was stolen on March 23, but it was worth nearly $615 million based on Tuesday’s pricing, making it one of the largest crypto thefts ever.
Ronin said in a post revealing the theft, “Most of the hacked funds are still in the hacker’s wallet,”
According to company, the team at Sky Mavis which is the creator of the battle and trading game Axie Infinity, the security breach was discovered on Tuesday after a user was unable to withdraw ether.
Ronin disclosed that the incident was still being investigated, but that hackers obtained private “keys” to withdraw digital funds.
Ronin said “We know trust needs to be earned and are using every resource at our disposal to deploy the most sophisticated security measures and processes to prevent future attacks,”
“We are working with law enforcement officials, forensic cryptographers, and our investors to make sure there is no loss of user funds.”