Jeff Zirlin, co-founder of the popular Blockchain-based metaverse coin project Axie Infinity, confirmed that his personal crypto wallets were compromised. The breach resulted in the loss of approximately $9.7 million worth of Ethereum (ETH). This high-profile incident underscores persistent vulnerabilities in the digital asset space despite a significant decline in crypto-related crimes in 2023.
Metaverse coin founder’s wallet was hacked and emptied!
cryptokoin.com As we reported, Axie hacked the wallet of Infinity’s co-founder. Hackers took over two personal crypto wallets of Jeff “Jihoz” Zirlin. The hacker managed to steal $9.7 million worth of Ethereum. Zirlin made a statement regarding the issue on his Twitter account. Metaverse coin co-founder “This has been a difficult morning for me. “Two of my addresses were seized.” said.
Zirlin stated that the crypto wallet attack was limited to his personal accounts. He also emphasized that it does not impact the operations of Ronin Blockchain or those of Sky Mavis, the company behind Axie Infinity. Zirlin said, “The attack is limited to my personal accounts. “Furthermore, it has nothing to do with the verification or operations of Ronin Chain,” he assured.
PeckShield tracked the ETH seized by the hacker
Security analysis firm PeckShield, which is monitoring the situation, reported that a “whale wallet” connected to Zirlin was breached. The attacker withdrew approximately 3,248 ETH from the Ronin Bridge. The hacker then transferred this to Tornado Cash.
Tornado Cash is a popular and controversial ‘mixing service’ used to hide the trail of cryptocurrency transactions.
Will crypto hacks rise again in 2024?
The incident occurred in the context of a broader trend in the crypto industry. According to PeckShield, the number of hacks, scams and exploits in the crypto industry decreased by 27.8% in 2023 compared to the previous year. Despite this decrease, the total loss amounted to approximately $2.61 billion. Therefore, he emphasized that these events continue to have a significant financial impact. DeFi protocols account for 67% of the total value stolen. Thus, it remains the main target.
The latest incident and their wider experience underscore the importance of caution and security when storing your own funds. Despite this, the co-founder of Axie Infinity remains optimistic despite the setbacks. In this regard, Zirlin said, “I will continue to move forward with each of you on this magical journey.” This incident serves as a stark reminder of the risks that are always present in the digital asset space, even as the industry evolves and adapts to counter these threats.
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