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Jeff Zirlin, Co-founder of Axie Infinity, Suffers $8 Million Loss in Ethereum Security Breach
Recently, Jeff “Jihoz” Zirlin, co-founder of Axie Infinity, experienced a security breach in two of his personal Ethereum addresses on Ronin, resulting in an $8 million loss. The web3 security firm Ancilia, Inc. first alerted Ronin Network about the unusual withdrawal of over 2,790 Ethereum, which was then deposited to Tornado.
Ancilia’s Analysis
Ancilia, Inc. indicated that the breach did not result from an exploit to the bridge, but rather from a likely leak of private keys. They stated, “Looks like not an exploit to the bridge, the message[s] are signed correctly, more likely a private key leaked.”
Axie Infinity Reassurance
Following the breach, Jihoz confirmed through a personal statement on social media that the attack targeted only his personal accounts and did not impact the Ronin blockchain or its operations. He emphasized, “The attack is limited to my personal accounts, and has nothing to do with validation or operations of the Ronin chain.” Co-founder and COO Aleksander Larsen reiterated that the network remained safe and highlighted the security measures in place for all chain-related activities.
Jihoz expressed his resolve to move forward despite the setback and thanked the community for their support. He stated, “Thank you to everyone that’s reached out. I’m safe. I will get through this, same as yesterday.”
Market Impact
According to CoinMarketCap, Ethereum is currently trading at $2,955, up 0.75% over the past 24 hours and 3.79% from a week ago. With the current price, the stolen Ethereum would be worth around $8.24 million. Ronin tokens (RON) also experienced major fluctuations in the past month, with a monthly increase of 31.52% despite recent corrections.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
