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🎮 Axie Infinity Hack: $620 Million Lost in Largest DeFi Exploit
In March 2022, the popular play-to-earn game Axie Infinity suffered a devastating attack on its Ronin Network, where hackers drained over $620 million in ETH and USDC — making it the largest DeFi hack in history.
🧠 The attackers used stolen private keys to forge withdrawals from the bridge that connected Ronin (Axie’s sidechain) to Ethereum. What’s worse: the breach went undetected for 6 days.
📉 The incident shocked the crypto gaming world and raised urgent concerns about security in sidechains and validator node centralization.
🛠️ Sky Mavis, the team behind Axie, later raised funds and pledged to reimburse users. The hack was later linked to the Lazarus Group, a North Korean state-sponsored hacking unit.
⚠️ The Axie hack remains a cautionary tale: even successful projects must prioritize security, decentralization, and proper audits.
🏷️ #AxieHack #RoninNetwork #DeFiSecurity #PlayToEarn #CryptoHistory
In March 2022, the popular play-to-earn game Axie Infinity suffered a devastating attack on its Ronin Network, where hackers drained over $620 million in ETH and USDC — making it the largest DeFi hack in history.
🧠 The attackers used stolen private keys to forge withdrawals from the bridge that connected Ronin (Axie’s sidechain) to Ethereum. What’s worse: the breach went undetected for 6 days.
📉 The incident shocked the crypto gaming world and raised urgent concerns about security in sidechains and validator node centralization.
🛠️ Sky Mavis, the team behind Axie, later raised funds and pledged to reimburse users. The hack was later linked to the Lazarus Group, a North Korean state-sponsored hacking unit.
⚠️ The Axie hack remains a cautionary tale: even successful projects must prioritize security, decentralization, and proper audits.
🏷️ #AxieHack #RoninNetwork #DeFiSecurity #PlayToEarn #CryptoHistory
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