Ronin Network and Axie Infinity Co-Founder, Jeff “Jihoz” Zirlin, reportedly had his wallet hacked because of a security breach of his personal information.

The misconception spreading around is that the whole Ronin Network is also compromised, leading investors on Twitter complaining and worrying that their funds are not safe.

Ronin Network Co-Founder Hacked

One of the Co-Founder of Ronin Network, which is the currently popular layer two blockchain for gaming purposes of Ethereum Virtual Machine based ecosystem, has reportedly got his personal wallet hacked.

The incident happened as a result of his personal information being leaked by an anonymous figure which led to two of his wallets being drained by hackers.

One of the blockchain security accounts on Twitter (X) that was quick to find out about this hack is PeckShieldAlert, which is a company that focuses on bringing anomalies and unusual activities happening on the blockchain.

PeckShieldAlert noted that three addresses that were currently compromised by hackers, all of them are Ronin wallets, standing on the Ronin Network.

After this tweet, people were quick to judge that the Ronin Network has been compromised and that the whole network was faulty, leaving investors, especially GameFi enthusiasts to panic and think that their wallets were also compromised.

PeckShieldAlert noted that there were around 3,248 ETH worth around $9.7 Million that was stolen from the sum of those three wallets combined.

They also found out that the money has been transferred to different accounts through Tornado Cash, which is a DApp that can be used to transfer crypto to multiple accounts, making it harder to be traced.

The misconception of the Ronin Network being hacked was spread quickly as PeckShieldAlert itself word the Tweet that was misleading.

Quick to Combat Misconceptions

Luckily, one of the other Co-Founder of Ronin Network and Axie Infinity, went to Twitter to sort things out.

He stated that the tweet that PeckShieldAlert spread was misleading because what happened was three wallets being hacked and not the whole network.

These kinds of things happen because of the wallet owner themselves and not because the network was faulty, leading him to be disappointed towards what has been spreading around.

He then clarified that the Ronin Network, Ronin wallet, and The Ronin Bridge are completely fine and not at all compromised, making sure the user's money is still safe.

The victim of the hack himself, also took to Twitter to say that the incident only caused his two wallets to be compromised and that the whole network is still safe.

He stated his disappointment but also made sure that investors know that he will not quit the project after losing that much money.

One thing that has not been clarified yet is the other wallet that has also been hacked, where until right now it is still unclear who owns it.

Looking at PeckShieldAlert’s discovery of this hack, there were three wallets that were compromised.

Two of them belong to Jihoz, the Co-Founder of Ronin Network and Axie Infinity, while the other one’s owner is still unclear.

Overall, this incident has reminded us that even if the market is still volatile and has not reached the bull market yet, hacks are bound to happen.

This is a clear reminder that investors need to be careful especially nearing the bull market when the occurrence of hacks are going to increase.

One of the ways to keep your money safe is to keep it in centralized exchanges such as Bitrue, which puts user’s funds safety first.

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