> make sure all funds are recovered or reimbursed
Does anyone know if they have the liquidity to actually reimburse over half a billion?
$625M worth of ETH drained on Axie Infinity's Ronin Network
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Re: $625M worth of ETH drained on Axie Infinity's Ronin Network
#12So close to April (greater) fools day. Who on earth is going to fill that $600M black hole? (No one.)
Or is someone going to reverse the Ethereum blockchain this time? (No one. Not even Vitalik this time.)
So I don't think there is anything going to save them from this hack.
Re: $625M worth of ETH drained on Axie Infinity's Ronin Network
#13> The validator key scheme is set up to be decentralized so that it limits an attack vector such as this
Even now, when it's obvious to everyone that only two parties needed to be compromised for this to happen (4/5 compromised nodes were effectively under one party it seems), they keep calling it "decentralized". Apart from the lack of gifs, memes and emojis in the post, I have a hard time coming up with a worse response.
Re: $625M worth of ETH drained on Axie Infinity's Ronin Network
#14No post body was provided.
Re: $625M worth of ETH drained on Axie Infinity's Ronin Network
#15Over half a billion in assets and..
> We discovered the attack this morning after a report from a user
Fuck me.
Re: $625M worth of ETH drained on Axie Infinity's Ronin Network
#16> The attacker used hacked private keys Why do people write "hacked" instead of "stolen"? To make it look like robbing them is harder than it actually is?
If you have a legal system, then breaking my lock is unlawful intrusion, and if you take something from behind my locked door, it's theft.
Without a legal system, e.g. crypto, if you solve my puzzle, then you deserve the reward. It's just math!
Re: $625M worth of ETH drained on Axie Infinity's Ronin Network
#17> The attacker used hacked private keys Why do people write "hacked" instead of "stolen"? To make it look like robbing them is harder than it actually is?
What meaningful distinction is drawn by using one of these words over the other? "Hacked" typically implies it happened over the net, whereas "stolen" typically implies it physically happened in person. The former is more appropriate here, no?
I like to distinguish attacks where money was stolen using stolen credentials from those that occured simply by manipulating smart contracts. Some crypto enthusiasts would consider the second type of attack to be legitimate activity rather than theft, so long as the attacker stayed within the letter of the 'law' as expressed on chain.
Re: $625M worth of ETH drained on Axie Infinity's Ronin Network
#18> The attacker used hacked private keys Why do people write "hacked" instead of "stolen"? To make it look like robbing them is harder than it actually is?
What meaningful distinction is drawn by using one of these words over the other? "Hacked" typically implies it happened over the net, whereas "stolen" typically implies it physically happened in person. The former is more appropriate here, no?
hacking a system and stealing a key (copying) is a lot less interesting than hacking a key by exploiting some cryptographic weakness
Re: $625M worth of ETH drained on Axie Infinity's Ronin Network
#19A 51% attack on a blockchain with a grand total of 9 nodes... why would be people trust such an obviously insecure chain with such large value?
Re: $625M worth of ETH drained on Axie Infinity's Ronin Network
#20So they now have this giant sum of money sitting in their wallet
https://etherscan.io/address/0x098b716b8aaf21512996dc57eb061...
what do they do next? How do criminals even use this money to do anything?