Markets News Report
February 23, 2024

Axie and Ronin Co-founder Jeff Jiho Zirlin’s Personal Crypto Wallet Hacked for $9.7M

In Brief

Axie and Ronin co-founder Jeff Jiho Zirlin confirmed hack of his personal crypto wallet for $9.7 million, sent to three Ethereum wallets.

Axie and Ronin Co-founder Jeff Jiho Zirlin's Personal Crypto Wallets Hacked for $9.7M

Approximately $9.7 million worth of Ethereum was stolen from wallets on the Ronin network Thursday and channeled through the Tornado Cash mixer.

The co-founder of Ronin and NFT game Axie Infinity — Jeff Jiho Zirlin expressed his remorse being impacted by the attack, via Twitter (X). Security firms PeckShield and Webacy reported that about 3,248 ETH was pilfered from Ronin network wallets and transferred through the network’s bridge to three Ethereum wallets.

The stolen ETH was then funneled through Tornado Cash, an automated service that blends funds from multiple users to obscure their final destinations.

Confirming the report, Zirlin wrote on X, “This has been a tough morning for me. Two of my addresses have been compromised. The attack is limited to my personal accounts and has nothing to do with validation or operations of the Ronin chain.”

“Additionally, the leaked keys have nothing to do with Sky Mavis operations. I want to assure everyone that we have strict security measures in place for all chain-related activities.”

“Thank you to everyone that’s reached out. I’m safe. I will get through this. I will keep pushing forward with each and everyone of you on this magical journey,” Zirlin added.

Ronin Network’s Security Unaffected by Recent Attack

In a separate tweet, fellow Sky Mavis co-founder Aleksander “Psycheout” Larsen echoed Zirlin’s remarks, stating that the attack was unrelated to the Ronin Network’s security, the security of its Ethereum bridge, or funds from Sky Mavis.

Larsen replied to a since-deleted tweet, affirming, “The bridge has no issue and Ronin is not compromised. A wallet has clearly been compromised, as occurs on every chain, and the funds are being Tornado Cashed.”

He added, “The bridge itself maintains top security, has undergone numerous audits, and halts withdrawals when excessive activity is detected.”

Ethereum is currently trading at $2,923 at the time of writing and is down by nearly 3%.

In the preceding month, Ronin tokens (RON) have undergone significant fluctuations in value. Commencing at $2.27, the token experienced a notable surge, reaching a peak of $3.49 before encountering a correction, which led to a decline to $2.40.

Subsequently, there was another notable ascent, nearly touching the $3.50 threshold around February 20th. However, the token’s value swiftly retreated to its current level of $2.97, representing a monthly increase of 31.52%.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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Kumar Gandharv
Kumar Gandharv

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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