Axie Infinity co-founder hit by $10m crypto wallet hack 😱

Axie Infinity Co-Founder Loses Nearly $10 Million in Wallet Hack

Jeff Zirlin, co-founder of blockchain gaming platform Axie Infinity, has revealed that he lost approximately $10 million after two of his personal wallet addresses were compromised. Zirlin clarified that the hack did not impact operations on Sky Mavis or the Ronin chain, emphasizing the robust security measures in place for all chain-related activities. The stolen funds, totaling 3,248 ETH (worth $9.5 million), were withdrawn from a whale wallet and transferred to crypto mixer Tornado Cash. Aleksander Larsen, co-founder and COO at Axie Infinity and Sky Mavis, confirmed that the Ronin Network and bridge remained secure.

Personal Wallets Compromised, but Operations Unaffected

Zirlin reassured the community that the attack only targeted his personal accounts and had no bearing on the validation or operations of the Ronin chain. The leaked keys were unrelated to Sky Mavis’ activities, ensuring that users’ assets and gameplay experiences remained unaffected.

Hackers Drain Funds from Whale Wallet

Hackers siphoned off 3,248 ETH (approximately $9.5 million) from a whale wallet.
The stolen funds were subsequently transferred to crypto mixer Tornado Cash.

Ronin Network and Bridge Remain Secure

Aleksander Larsen, known as “Pyscheout” on X, confirmed the safety of the Ronin Network and bridge. While a wallet had been compromised, Larsen emphasized that such incidents occur on every chain. He highlighted the top-notch security measures and extensive audits conducted for the Ronin bridge, which temporarily pauses withdrawals if deemed necessary.

Previous Hacks and Attacks

In March 2022, the Ronin Network experienced a significant hack, resulting in the theft of over $600 million in USDC and ETH. The notorious Lazarus Group, a North Korean hacking organization, was suspected to be behind the attack.

Hot Take: Strengthening Security Measures for Personal Wallets

While Axie Infinity’s operations remained unaffected by the recent wallet hack, it serves as a reminder of the importance of robust security measures for personal crypto wallets. As a crypto enthusiast, you can take proactive steps to protect your assets:

Use hardware wallets or cold storage solutions to store your cryptocurrencies securely.
Implement two-factor authentication (2FA) for all relevant accounts.
Regularly update your software and firmware to ensure you have the latest security patches.
Avoid sharing sensitive information or wallet details online.
Stay informed about potential threats and scams in the crypto space.

By prioritizing security and staying vigilant, you can minimize the risk of falling victim to wallet hacks and safeguard your valuable digital assets.