Hackers steal $620M in Ethereum and dollars from Axie Infinity maker Sky Mavis’ Ronin network

Sky Mavis reported that the Ronin Network which supports its Axie Infinity game has been hacked and thieves stole 173,600 in Ethereum cryptocurrency (worth $594.6 million) and $25.5 million in U.S. dollars, stealing a total of $620 million.

If Sky Mavis, the maker of the Axie Infinity blockchain game, can’t recover the funds, that’s a huge hit to its overall treasury and a black eye for blockchain-based security, as the whole point of putting the game on the blockchain — in this case a Layer 2 network dubbed the Ronin Network — is to enable better security.