The Ronin Hack Aftermatch: Axie Infinity’s $1M Bug Bounty

The popular blockchain game Axie Infinity has been left shaking after the $650 million Ronin bridge hack. The studio behind the game, Sky Mavis, has been taking multiple measures to try to secure the network and win back the confidence of users. The latest move announced is a $1 million bug bounty program that invites white hat hackers to stress test the blockchain. Co-Founder and COO of Sky Mavis and Axie announced: “Calling all whitehats in the blockchain space. The Sky Mavis Bug Bounty program is here. Help us keep the Ronin Network secure while earning a bounty up to $1,000,000 in bounty for fatal bugs.” The Ronin Hack On March 23rd, a hacker was able to scoop $600 million from the Ronin bridge. It is the largest hack in the history of decentralized finances so far. The Ronin Network team confirmed that Sky Mavis’s Ronin validator nodes and Axie DAO validator nodes were compromised as the attacker used “hacked private keys in order to forge fake withdrawals.” The attack was uncovered after the attacker was unable to withdraw 5k ETH from the bridge. But it was too late, as they had already drained 173,600 Ethereum and 25.5M USDC from the Ronin bridge in two transactions. The Ronin team stated that they are working with law enforcement officials, forensic cryptographers, and investors “to make sure all funds are recovered or reimbursed,” and added that “All of the AXS, RON, and SLP o...