(OP)inions Crypto hackers steal $600 million

March 30, 2022 

Hackers stole about $600 million from a blockchain network connected to the popular Axie Infinity online game in one of the biggest crypto attacks to date. 

Computers known as nodes operated by Axie Infinity maker Sky Mavis and the Axie DAO that support a so-called bridge -- software that lets people convert tokens into ones that can be used on another network -- were attacked, with the hacker draining whats known as the Ronin Bridge of 173,600 Ether and 25.5 million USDC tokens in two transactions. The breach happened on March 23, but was only discovered Tuesday, according to Ronin, the blockchain that supports Axie Infinity. 

The attack is the latest to show that bridges are often rife with problems. The computer code of many isn‘t audited, allowing for hackers to exploit vulnerabilities. It’s often unclear who runs them and exactly how. Identities of validators, who are supposed to order transactions on bridges, are often shrouded in mystery. And yet there are thousands of bridges out there, and they move and they move hundreds of millions of dollars worth of crypto. 

OnePro Special Analyst

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