Hackers then got access to community-run Axie DAO, which had access to one more validator. The spyware encased in that PDF, reports The Block, allowed the hacker to control four of Ronin's nine validators. They now fetch far less - with Axies often selling for under $10. At its peak, bottom-tier Axies were selling for over $300 each. While bitcoin is designed to be secure at all costs, Ronin's sole purpose was to provide cheap, quick transactions for Axie Infinity players.Īxie Infinity sees players battle and breed Axie monsters, which are owned as NFTs. For a bad actor to take complete control of the bitcoin blockchain, which uses Proof-of-Work, they would need 51% of the electricity being utilized by every bitcoin miner in the world. For a bad actor to take control of Ronin, they needed to take control of five of those nine validators. At the time of the hack, Axie Infinity had nine validators. Ronin is a Proof-of-Authority blockchain, which means control over the network is given to hand-picked validators. The company, however, didn't exist, and the PDF was laced with spyware. The recruiting process involved several interviews and ended with a job offer, sent via PDF. A report from The Block on Wednesday revealed that the hack was socially engineered via a fake job offer.Ī senior Sky Mavis engineer was targeted by "recruiters" on LinkedIn who hoped to sign him to their company, reports The Block, citing sources familiar with the matter.
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