Gaming hack be warned ethereum (NFT/blockchain)

[Odusko]

Well as a newbie to this forum or cryptocurrency one need to be well equipped with the relevant information as to protect you and your funds from scammers and hackers, always be on the look out for relevant informations and knowledge before you make your final conclusion.
I am a gaming lover and at that I am always on the lookout for security challenges, I stumbled on this gaming jack which is in relation to the e-gaming wifi pity NFT ethereum blockchain hack which a total of $625/worth of ethereum from the gaming site the operators of the platform announced this in a statement earlier on the 29th of match 2022.
https://www.legit.ng/business-economy/technology/1463180-hackers-target-steal-n249-trillion-worth-cryptocurrency-from-gaming-company-axie-infinity/

[Dunamisx]

Well as a newbie to this forum or cryptocurrency one need to be well equipped with the relevant information as to protect you and your funds from scammers and hackers, always be on the look out for relevant informations and knowledge before you make your final conclusion.
I am a gaming lover and at that I am always on the lookout for security challenges, I stumbled on this gaming jack which is in relation to the e-gaming wifi pity NFT ethereum blockchain hack which a total of $625/worth of ethereum from the gaming site the operators of the platform announced this in a statement earlier on the 29th of match 2022.
https://www.legit.ng/business-economy/technology/1463180-hackers-target-steal-n249-trillion-worth-cryptocurrency-from-gaming-company-axie-infinity/

We have to understand that lots of illicit activities are going on with the NFT modernize ways of scam, some will demand you to pay first for the subscription into their service to be able to enjoy their benefits, some will even end into waste of time and efforts. I also red about it, though axie infinity is one of the best NFT gaming site but much care is needed, hackers (scammers) now go extra miles just to lure users into their trap

[Odusko]

We have to understand that lots of illicit activities are going on with the NFT modernize ways of scam, some will demand you to pay first for the subscription into their service to be able to enjoy their benefits, some will even end into waste of time and efforts. I also red about it, though axie infinity is one of the best NFT gaming site but much care is needed, hackers (scammers) now go the extra mile just to lure users into their trap

Yeah since the NFT e-gaming is a new development with so much hype a lot of scammers are turning to it for their illicit activities and this has been to a huge amount of funds being stolen from different wallets and platforms in recent times. But we have to know that scamming/hacking is not a new thing and since the coming of cryptocurrency hackers have are several attempts to hack into safe funds time they succeed other times they don't so we need to be warned and be on alert

[bitmover]

Well as a newbie to this forum or cryptocurrency one need to be well equipped with the relevant information as to protect you and your funds from scammers and hackers, always be on the look out for relevant informations and knowledge before you make your final conclusion.
I am a gaming lover and at that I am always on the lookout for security challenges, I stumbled on this gaming jack which is in relation to the e-gaming wifi pity NFT ethereum blockchain hack which a total of $625/worth of ethereum from the gaming site the operators of the platform announced this in a statement earlier on the 29th of match 2022.
https://www.legit.ng/business-economy/technology/1463180-hackers-target-steal-n249-trillion-worth-cryptocurrency-from-gaming-company-axie-infinity/

What is important here is that each dApp has it own smartcontract, i.e. , its own code. That code might have vulnerabilities, which will be exploited if they exist.

This doesn't mean that Ethereum blockchain isn't safe, only that this contract had a vulnerability

This is one of the reasons why altcoins/tokens are riskier than bitcoin and other established projects, such as ethereum.

[pakhitheboss]

This is the second biggest theft in the history of cryptocurrency hacks after Polynetwork. I did post a chart on this hack here. It is the biggest hack reported on a crypto bridge. I am not sure how the Axie Infinity team will be able to recover that amount. This is one of the main reasons why investors should focus primarily on Bitcoin.

[worle1bm]

There are many such hacks going on in which people loose their money due to their foolishness like they click on some wrong links or download these apps from which your funds can be accessed.The hackers usually exploits the bugs through which the projects security is comprised like the recent Ronin network breach.So they will always be there looking for such opportunities to steal the funds.

[cabron]

A few months before this Ronin, there was also NFT market that was hacked.
It's not the first hack that has gotten a lot of money but this one from Axie is just too popular that even mainstream media had reported it many times. This kind of hack is not going to be the last too, there will be more coming. It's not the user's fault though, there are just holes in its network that a malicious hacker found an exploit. $625M is more than tempting to resist.

[Odusko]

A few months before this Ronin, there was also NFT market that was hacked.
It's not the first hack that has gotten a lot of money but this one from Axie is just too popular that even mainstream media had reported it many times. This kind of hack is not going to be the last too, there will be more coming. It's not the user's fault though, there are just holes in its network that a malicious hacker found an exploit. $625M is more than tempting to resist.

Any time there is a new hype the scammer will steal huge funds from various platforms that failed in securing their security architecture. I was surprised to read that such a huge amount was stolen by hackers it saddening that we just need to secure our funds and avoid storing large funds on any gaming platform.

[jossiel]

This doesn't mean that Ethereum blockchain isn't safe, only that this contract had a vulnerability

Although Sky Mavis is still in Ethereum blockchain for their tokens and what was hacked to them is Ethereum and USDC.

But the ones that were hacked in them are through their very own ronin network. I don't know if someone already has read their codes or it's an open or closed source.

Hacks in NFT just like the projects in the past have been happening. This time, it's noisier because it's the top popular NFT game and it's the highest worth that was hacked.

[Odusko]

There are many such hacks going on in which people loose their money due to their foolishness like they click on some wrong links or download these apps from which your funds can be accessed.The hackers usually exploits the bugs through which the projects security is comprised like the recent Ronin network breach.So they will always be there looking for such opportunities to steal the funds.

The level of security challenges in most gaming platforms seems to be an insider work to me as most of them a targeted and funds stolen in a large proportion. A gambling site that mainly deals with football betting was hacked recently and the hackers are of Russian origin.

[cryptoaddictchie]

Gamers should really pay attention to blockchain games. Its really different from their casual games that arent blockchain related in case there is a breach or hacked incident. What blockchain game really enticed scammers are the money that can be drawn out of their hacking or coding skills which is quite unfortunate instead of using that talent to work correctly. They are doing the easy money way but a very inhumane method.

[hugeblack]

Tokens, bridges, decentralized finance, Dapps, Atomic Swap, Dex Swap, Swap wallets and more^[1] are built on how smart contracts handle orders.
Finding a bug in smart contracts is difficult, but there are no legal regulations that track hackers, and therefore a member of the developer team may be the one who did it or helped it.
Therefore, you should not trust any token/smart contract level codes or easy Double spending attack cryptocurrency.  


[1]

 - 10: PancakeBunny – $45 Million Lost. ...
 - 6: EasyFi – $59 Million Lost. ...
 - 3: Cream Finance – $130 Million Lost. ...
 - 1: Poly Network – $610 Million Lost (and Returned)


Source ---> https://halborn.com/the-10-biggest-defi-hacks-of-2021-a-recap/

[Lanatsa]

Gamers should really pay attention to blockchain games. Its really different from their casual games that arent blockchain related in case there is a breach or hacked incident. What blockchain game really enticed scammers are the money that can be drawn out of their hacking or coding skills which is quite unfortunate instead of using that talent to work correctly. They are doing the easy money way but a very inhumane method.

No matter what market you are involved into, there would be always those people who do took advantage for some quick easy money came from greedy and noob investors without even trying to make out some research

first before they do make out some investment.This DeFi hype or trend did really make out lots of those rugpulls and hacking incident just like on what happened into those  ICO days.It is shocking? No its not because these
fellas would be still always present no matter what.They do really exist and do really tend to make use of their skills on the wrong way.There's no way for us to avoid but rather using up our own
common sense and dont make yourself got greedy.

[Teraboy]

Yeah the hacker was smart enough unlike garbage axie developers who did know that the hack already happened with their bridge a week after the hacker stole all of the funds from the bridge. Axie developers are so dumb and they didn't even care about the security. there was no 24/7 monitor for their bridge and the weirdest thing is if they didn't even know the hack already happened. That's their fault lol. To be honest if it can be easily detected but the team was very slow in this case as they were thinking if their bridge has become a perfect bridge with no vulnerability lol. They are a big joke.
I don't know how people can still trust this garbage developers with their amateur security maintenance. That's weird to see that happened with it.

[dansus021]

I know the news about hacked bridge on rekt.news https://rekt.news/ronin-rekt/ and this maybe become one reason crypto price fell too

in the other had gaming on chain like axie, crypto metaverse is still at early step. and i see lot of them GameFi fall even they are not hacked so in my opinion to take extra careful with this one

[hugeblack]

in the other had gaming on chain like axie, crypto metaverse is still at early step. and i see lot of them GameFi fall even they are not hacked so in my opinion to take extra careful with this one

I did not follow the story, but if a platform claims to be decentralized and then comes to tell customers that the data was hacked and money was stolen, it is either false by claiming decentralization or false about theft. In any case, the user should not use the centralized platforms until after making sure that they are decentralized.

If that bridge owns a large amount of bitcoin, it may affect the market, otherwise it will not have an impact.

[aysg76]

What is important here is that each dApp has it own smartcontract, i.e. , its own code. That code might have vulnerabilities, which will be exploited if they exist.

This doesn't mean that Ethereum blockchain isn't safe, only that this contract had a vulnerability

This is one of the reasons why altcoins/tokens are riskier than bitcoin and other established projects, such as ethereum.

You cannot trust these new projects coming in the market with your funds because there are two cases at the most like they themselves turn scam and rug you of your funds or the smart contract has security breaches that can easily exploite the whole project.

In fact, now, many wallets allow you to keep your cryptocurrency absolutely safe. However, I would single out Metamask because this crypto wallet is the most secure.

I would say not too much because we have also seen some hacks in this wallet also and there were many NFT's stolen through Metamask also and users fund got drained with the full amount they were having in them

Metamask hack

But now they have made some upgradation in the wallet for the user security by giving permission to access your NFT and you can change settings in yhe wallet so that's nice update but still the riks lies there if you are not taking proper care of your funds : Metamask update

If that bridge owns a large amount of bitcoin, it may affect the market, otherwise it will not have an impact.

Yes the normal theft of bitcoin would not effect the market at all but if the amount is high then it could definitely affect the market

The Ronin network scam was worth more then $600 million and they didn't found about it till a week and this was discovered when user was not able to withdraw the funds and there was some altcoins that were hacked if I remember to some extent but it was one of the largest hack and hackers account was freezed by Binance and also didn't follow up the stroy afterwards.