Daily Management Review

Hackers steal $540 million in cryptocurrency from Axie Infinity game users


Sky Mavis, the publisher of the online game Axie Infinity, in which users can earn crypto-assets, stated that over $500 million in cryptocurrency was stolen from its subscribers.

Ronin, the network on which Axie Infinity's online game runs, was hacked and $540 million in crypto-assets were stolen. Sky Mavis, the game's publisher, reported the theft. According to The Wall Street Journal, this is one of the greatest thefts in the crypto industry's 13-year history.

Hackers obtained access to accounts holding cryptocurrencies and stole 173,600 ether and 25.5 million USDC stabelcoins, according to the cryptocurrency startup, which also hosts the famous online game Axie Infinity.

This was the second-largest theft of crypto assets in the crypto industry's 13-year history, according to analytics firm Elliptic. The assets were worth around $540 million when they were stolen, and they are now worth over $615 million. All of the cash, according to Sky Mavis, are still in the hands of the alleged hacker. Together with analytics firm Chainalysis, the company is monitoring the stolen funds.

source: wsj.com