Huge robbery of crypto coins

Huge robbery of crypto coins

Blockchain company Ronin has fallen victim to one of the largest crypto thefts ever. The company made this known via Twitter. The loot in Ethereum and USD Coins amounts to more than 550 million euros.

NFTs

Ronin supplies so-called NFTs (non fungible tokens) for games. These are digital properties that are often settled in crypto coins. On March 23, there was a hacker attack on Ronin.

An NFT is a unique digital certificate of, for example, a meme or a video, with which the owner can prove that it is owned.

The thieves possessed hacked private keys with which they could siphon crypto from Ronin.
Blockchain

When an NFT is sold by Ronin, a note is made on the blockchain, an administration of all transactions in a certain crypto currency. The blockchain should also show transactions with the stolen cryptocurrency, but these have not yet been determined. This means that the hackers still have the coins somewhere in their own wallet.

The company says it is working with various agencies to try to recover or negotiate the capital amount.

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