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Hackers Steal Nearly $10 Million from Axie Infinity Co-founder’s Personal Accounts

 

A significant amount of cryptocurrency, valued at nearly $10 million, has been reported stolen from personal accounts belonging to Jeff "Jihoz" Zirlin, one of the co-founders associated with the video game Axie Infinity and its affiliated Ronin Network.

According to reports, Zirlin's wallets were compromised, resulting in the theft of 3,248 ethereum coins, equivalent to approximately $9.7 million. Zirlin took to social media to confirm the incident, stating that two of his accounts had been breached. 

However, he emphasized that the attack solely targeted his personal accounts and did not affect the validation or operations of the Ronin chain or Axie Infinity,as reiterated by Aleksander Larsen, another co-founder of the Ronin Network.

The method through which the intruders gained access to Zirlin's wallets remains unclear. The Ronin Network serves as the underlying infrastructure for Axie Infinity, a game renowned for its play-to-earn model based on ethereum, particularly popular in Southeast Asia. 

Notably, the system had previously fallen victim to a $600 million cryptocurrency heist in March 2022, an attack attributed by U.S. prosecutors to the Lazarus Group, a cybercrime operation allegedly backed by North Korea.

Analysts tracking the recent theft traced the stolen funds to activity on Tornado Cash, a cryptocurrency mixer designed to obfuscate the origin of funds. It's worth noting that Lazarus had previously utilized this mixer to launder proceeds from the 2022 hack. The U.S. government, in response, had separately imposed sanctions on Tornado Cash.

Blockchain investigator PeckShield described the incident as a "wallet compromise," indicating a breach in security measures. Despite the breach, Zirlin assured stakeholders of the stringent security protocols in place for all activities related to the Ronin chain.