This week in crypto was full of drama and new launches in DeFi. Ronin Network hacked, Trisolaris Stable AMM launched, DeFi kingdom launched on Avalanche Subnet, and UST goes Interchain. Read this weekly recap to learn more about the main changes in the cryptocurrency world that took place between March 28 to April 3 2022. Ronin Network hacked, $620 Million Worth of Crypto Lost The Ronin network, which is used to conduct in-game transactions for Axie Infinity, one of the world’s most popular NFT based game, was hacked, and hackers made off with almost $620 million in cryptocurrencies. The hack happened on March 23, and no one noticed until a user tried to withdraw his funds on 29 th March. It was revealed that an ongoing investigation indicated the attack was “socially engineered” rather than the result of a technological flaw. The Ronin network links Axie Infinity and the Ethereum blockchain, allowing transactions and token transfers to and from the game. According to blockchain analysis firm Elliptic, the robbery is the second greatest cryptocurrency heist. There has been a security breach on the Ronin Network.https://t.co/ktAp9w5qpP — Ronin (@Ronin_Network) March 29, 2022 According to Ronin’s Twitter post, the hackers got off with 173,600 ether and 25.5 million USDC. Axie Infinity’s Twitter page also verified the attack. In their blog post, Ronin stated that it is collaborating with Chainalysis, a blockchain tracking company...
