Blockchain project Ronin hit by $615-million crypto heist

This makes it the second-largest crypto theft on record, according to blockchain analysis firm Elliptic

premium

Ronin said in a blog post that the hacker had used stolen private keys - the passwords needed to access crypto funds - to make off with the funds

Reuters London

2 min read Last Updated : Mar 29 2022 | 11:17 PM IST

Blockchain project Ronin said on Tuesday that hackers stole cryptocurrency now worth almost $615 million from its systems, in what would be one of the largest cryptocurrency heists on record. The project said that unidentified hackers on March 23 stole some 173,600 ether tokens and 25.5 million USD Coin tokens. At current exchange rates, the stolen funds are worth $615 million, but they were worth some $540 million at the time of the attack.

This makes it the second-largest crypto theft on record, according to blockchain analysis firm Elliptic. Ronin is used to power the popular online game Axie Infinity,

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Topics : NFT Blockchain