In a stunning turn of events, Jeff “Jihoz” Zirlin, co-founder of the popular blockchain game Axie Infinity and the Ronin Network, has fallen victim to a significant crypto hack. Two of his personal crypto wallets were compromised, resulting in losses of nearly $10 million worth of Ethereum. Let’s delve into the details of this unfortunate incident.
The Hack
The breach was first detected and reported by blockchain security firm PeckShield. Unauthorized transfers occurred from Zirlin’s Ronin Bridge wallet, with approximately 3,248 ETH (currently valued at around $9.6 million) being siphoned away. The stolen funds were initially distributed across three different wallets before being deposited into Tornado Cash, a cryptocurrency mixer.
A hacker attacked 2 wallets of @Jihoz_Axie and stole $10.46M assets, including:
3.2M $RON($9.53M)
282.32 $WETH($834K)
160K $PIXEL($87K)
2.76M $SLP($10K)
2,042 $USDC
164 $AXS($1,272)All assets were exchanged for 3,249 $ETH($9.6M) and deposited into #TornadoCash. pic.twitter.com/BUe8V3q3er
— Lookonchain (@lookonchain) February 23, 2024
Zirlin’s Response
In a series of tweets, Zirlin confirmed the hack but assured the community that Ronin Network operations were not affected. His prompt acknowledgment and transparency demonstrate his commitment to addressing the situation promptly.
This has been a tough morning for me.
Two of my addresses have been compromised.
The attack is limited to my personal accounts, and has nothing to do with validation or operations of the Ronin chain.
Additionally, the leaked keys have nothing to do with Sky Mavis operations.…
— Jihoz.ron (@Jihoz_Axie) February 23, 2024
Zirlin said they have “strict security measures in place for all chain-related activities to assuage fears.” The co-founder also remains upbeat, assuring concerned crypto community members that the project will continue pursuing its mission of bringing “economic freedom” to all users.
Ronin Network’s Security
Aleksander Larsen, another co-founder of the Ronin Network, emphasized that the attack seemed to target Zirlin’s personal wallet rather than the Ronin Bridge itself. The Ronin Bridge had previously undergone security audits, and this incident highlights the importance of individual wallet security.
History Repeats Itself
Interestingly, this isn’t the first time the Ronin Network faced a security breach. Two years ago, the network’s bridge was hacked, resulting in a staggering loss of over $625 million worth of crypto. That earlier attack was attributed to the North Korean-linked Lazarus Group.
Note:
The crypto world remains a challenging landscape, with security threats lurking at every corner. Jeff Zirlin’s unfortunate loss serves as a stark reminder for all crypto enthusiasts to prioritize security measures, safeguard personal wallets, and stay vigilant against potential threats.