Ronin operator Sky Mavis and Axie Infinity have proven the hack and collected financial transactions on Ronin, allowing deposits and withdrawals of funds from the company’s blockchain.
Sky Mavis says it is working with law enforcement to recover 173,600 ETH (worth about $600 million) and $25.5 million (USD cryptocurrency) from the perpetrator, who pulled them off the network on March 23.
For other cryptocurrencies such as Ethereum. Ethereum or USDC can be exchanged for Ronin, and then buy non-fungible tokens or in-game currency or sell their in-game assets and withdraw them at the transfer location.
The attacker used private, compromised security keys to breach network nodes that verify transmissions through the Ronin blockchain. This allowed the attacker large amounts of Ethereum and USDC. The transfer was discovered a week later – when he tried to find 50 Ethereum across the bridge.
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