Axie Infinity Co-Founder Loses Over $10 Million in Hack
Two personal crypto wallets belonging to Jeff “Jihoz” Zirlin, the co-founder of Sky Mavis, the company behind the popular play-to-earn (P2E) game Axie Infinity, have been compromised. The hack resulted in the theft of over $10 million worth of various crypto assets, primarily RON, the native token of Ronin Chain.
- The hacker stole 3.2 million RON worth over $9.53 million.
- Zirlin also lost over $834,000 worth of Wrapped Ethereum (ETH).
- Other stolen assets include PIXEL, SLP, and USDC.
This hack is surprising given Zirlin’s role in Axie Infinity and the billions of assets distributed by the game since its popularity peak. The stolen assets were converted to ETH and deposited into Tornado Cash, a crypto mixer that has faced allegations of money laundering.
Dedicated to Mission; RON and AXS Post Minor Losses
Zirlin confirmed the hack on February 23 but assured that it only affected his personal accounts and not the Ronin chain or Sky Mavis operations. The compromised private keys were not connected to the company’s internal systems. Despite the hack, Zirlin remains committed to Axie Infinity’s mission of bringing economic freedom to all users.
Hot Take: Stable but Lower Prices for AXS and RON
The prices of AXS and RON have remained stable but lower since February 21. After experiencing significant gains in early Q4 2023, both tokens have cooled off. It will be interesting to see how this hack affects investor sentiment and the future performance of Axie Infinity.
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