Ronin Network suffers 51% attack, $625 million stolen

Summary # On March 23, 2022, Ronin Network, a blockchain that powers the popular game Axie Infinity, suffered a 51% attack. This allows the attacker to control the network via compromising validators private keys and perform malicious actions, such as double-spending transactions or preventing new blocks from being mined. The attack resulted in the theft of $625 million worth of Ethereum and USDC. The hackers were able to reorganize over 100 blocks, which allowed them to double-spend large amount of assets. ...