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Well take a look at details of the hack, and how the companys mitigating it.
But first, a brief introduction about the game and the Ronin blockchain.
What the heck is Axie Infinity?
They can earn in-game tokens through breeding, battling, and building their army with these monsters called Axies.
In February,it crossed the mark of $4 billionin lifetime NFT sales.
And what is Ronin?
The games transactions are based on Ethereum.
But its very costly to do multiple transactions per day because ofthe high feesinvolved with ETH.
This led to tremendous growth, andthe games community grew to 2.9 million usersby the end of 2021 end.
What about that breach?
for complete a transaction on the Ronin blockchain, you need approval from validator nodes.
Sky Mavis is also working with forensic cryptographers, authorities, and security agencies like Chainalysis to recover funds.
Its trying to ensure that no user money is lost in the process.
This hack outlines the requirement to increase security for cryptocurrency-based projects.
That’s one heck of a mixed bag.
He likes to say “Bleh.
That’s one heck of a mixed bag.
He likes to say “Bleh.”
