Sky Mavis assured that it will replenish the stolen funds in the RON network

Yesterday, the company Sky Mavis, the developer of the popular NFT game Axie Infinity, assured that the funds that were stolen from the Ronin network (RON) would overflow to all users.

The company's director of operations, Aleksander Leonard Larsen published this statement on his personal Twitter account.

The idea behind this announcement is that users can be calmer after the theft. The truth is that all this had alarmed users and caused a small drop in the company's coins.

Many users wondered what was going to happen to their money, many of them believed that it was lost. However, with this statement, users will be able to rest easier, since they know that the company will assume the loss in the event that they cannot recover the funds.

The company took responsibility for the theft.

With this statement, the company also disclosed its responsibility for the theft. The company was able to realize the great movements that were made on the network, but that did not happen and due to that carelessness, the hackers managed to extract the 600 million dollars.

Everything that happened happened because the company made a series of security mistakes. All of them led to the hacker being able to access the network and carry out the theft.

Additionally, the company has stated that it is happy with how users and the entire Axie Infinity community have handled this issue.

Likewise, he said that they are doing everything possible to recover the money and that the network is under a complete review. With this, they seek to detect any type of vulnerability to prevent acts like this from occurring again.

How did the hack happen?

The company has also explained how the hacker managed to get hold of the money. As it became known, the problem began last December, when the company enabled Sky Mavis to sign transactions.

These keys should have been suspended, however, the company did not and the hacker managed to get hold of those keys. For a transaction to be approved, it is necessary to have more than 50% of the keys.

In the case of the Ronin network, there were a total of 9 private keys, of which, 4 of them belonged to Sky Mavis and which should be disabled.

The hacker managed to get hold of these four private keys owned by Sky Mavis without them noticing. He also managed to get a fifth key, which made him free to steal all the money.

Investigations are already underway

Both Sky Mavis and a team of professionals are trying to recover the money. As has been known, the vast majority of funds are still in the wallet to which they were extracted. So, the hacker has not moved about 585 million dollars.

The mined $25.5 million in USDC was sold on Uniswap on the same day of the theft. So, unless they manage to catch the hacker, it is unlikely that money can be recovered.

Similarly, some 3,750 Ethers were moved through different wallets until they reached the Huobi exchange. This could be a serious mistake on the part of the hacker or simply a tactic to divert attention.

Huobi has KYC, a mechanism by which the identity of the account holder is verified. Therefore, with a court order, the data of the thief could be obtained. However, nothing guarantees that they are real accounts and not accounts that you have bought online.

It is not clear why the criminal has not moved the 585 million dollars. Some speculation would indicate that the person in charge could be looking for an agreement. That is, return the 585 million in exchange for keeping the more than 25 million that it has already sold.

In any case, we will have to wait for the next few days to find out how this case unfolds and whether or not the company manages to recover the money. Failure to do so would be a serious blow to the company's finances and credibility.