Ronin Network Releases Security Breach Report

Axie Infinity sidechain Ronin Network has released a security breach report stating that Sky Mavis' Ronin validator node and Axie DAO validator node were compromised in the hack, resulting in 173,600 $ETH and 25.5 million $USDC drained from the Ronin bridge. The hackers infiltrated the Sky Mavis IT infrastructure and gained access to the validator nodes through a phishing attack on Sky Mavis, and discovered a backdoor through the Gas-free RPC node to successfully obtain the signatures of the Axie DAO validator nodes, thereby taking control of 5/9 validator nodes. In addition, the Ronin cross-chain bridge is currently being redesigned and is expected to reopen in mid to late May. All user funds stolen from the cross-chain bridge are secured by recent Sky Mavis funding, Axie Infinity and Sky Mavis balance sheet assets, and personal funds from the core team.