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April 2, 2022

Hacker Steals $615 Million From Axie Infinity

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A hacker stole more than $615 million in Ether and USDC from Axie Infinity’s blockchain-based video game. According to CNN, “Axie Infinity is a successful web3 game in which players use NFT digital pets, called Axies, to interact with the game’s community. Players can use their Axies to battle other players and to breed new Axies.” (CNN)

Axie infinity is built on the Ronin network, an independently developed blockchain designed to be interoperable with Ethereum. Axie is fresh off a $152 million in Series B funding in 2021. Unfortunately, the success of some private chains leads to their downfall. Hackers target private and permissioned blockchains because they are less secure than public p-o-w chains like Bitcoin. (Reuters)

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