@stewbits22 8 April 2022 more from that month

Warning not all Defi is really Defi. There were only 5 validator nodes securing the network: Axie Infinity fell victim of one of the largest exploits in DeFi history Axie Infinity’s bridge chain Ronin Network (RON) has suffered from a massive breach, resulting in a loss of over $600 million worth of ETH and USDC. The attacker was able to get control over four Ronin validator nodes of Sky Mavis — the publishers of popular game Axie Infinity (AXS) — and the node run by Axie DAO. Before the exploit the Ronin sidechain had only nine validators and required just five signatures for withdrawals and deposits, so the adversary was able to forge fake withdrawals from the bridge using compromised private keys. According to the COO of Axie Infinity, the breach was a result of a “social engineering attack combined with a human error”. Following the attack, the Ronin Bridge and the Katana DEX have been temporarily paused, compromised validator nodes have been replaced, the validator threshold has been increased from five to eight, and the development team announced plans to add new validators to increase its blockchain security. Binance has also temporary paused withdrawals and deposits on the Ronin network. The team behind Axie Infinity has promised that all players who suffered from the exploit will be reimbursed. The Ronin Network is an Ethereum sidechain that was specifically created to provide a scaling solution for the popular blockchain game Axie Infinity due to Ethereum’s high transaction fees. https://bytes.localcryptos.com/2022-04-08/axie-infinity-fell-victim-of-one-of-largest-exploit-in-defi-history/?pk_campaign=Bytes-Newsletter&pk_kwd=Bytes-Edition-54