Axie Infinity immediately raised the deposit and withdrawal conditions to 8/9 nodes and contacted the security teams of many major exchanges to trace the cash flow. The incident was only discovered on March 29 when users reported that they could not withdraw money from the Ronin bridge. At that time, on Ronin, there were 9 active nodes to proceed with depositing or withdrawing only needed the approval of 5/9 nodes, which is what the hacker did to attack. On March 23, four Sky Mavis Ronin nodes and Axie DAO Ronin nodes were compromised, resulting in the entire amount being stolen via just two transactions. The leading cause of the problem mainly stemmed from the project's lax verification and security. This was the most damaging cryptocurrency attack in history, with a loss of 173,600 ETH and 25.5 million USDC, worth more than $622 million at the time. Sky Mavis' latest move to expand validators to strengthen the security of the project follows the Ronin bridge attack at the end of March. “As part of Sky Mavis’ shift towards decentralization, Sky Mavis proposes new validators and puts them up for a vote.” “Today’s validators were selected to ensure that Ronin has active, responsive, and secure validators backing the network as part of Sky Mavis’ commitment to bolstering our security,” said the Sky Marvis development team. In addition, the project revealed that it is getting closer to its goal in the next three months of deploying 21 independent nodes and, in the far future, 100 nodes. The three entities that will take on this role are Efficient Frontier, Community Gaming and Nansen. We are thrilled to introduce three new Ronin network validators, bringing our total to 17, making progress towards achieving our initial goal of 21 independent validators collectively securing the network.
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