![]() ![]() ![]() Why does this keep happening? David Gerard says DeFi is akin to a piñata. Qubit Bridge, Wormhole Bridge, Meter.io Bridge, and Poly Network Bridge have all suffered similar fates. (Blog post)īridges are a honeypot for hackers. Someone robbed the money and now you’re stuck with worthless chips. A bridge is like a casino where you trade in your actual money for casino chips. Molly White wrote a post describing how everything works. The Ronin bridge locks up ETH, the native crypto of Ethereum, and issues a token on the Ronin sidechain that represents ETH called wrapped ETH, or WETH. In the world of DeFi, a bridge lets you use crypto from a different blockchain. How do you get your ETH onto Ronin? The Ronin Bridge. But since Ethereum is too sluggish and costly to use, it now runs on Ronin. CNN declined the request.”Īxie originally ran on Ethereum. “Shortly after his first interview, which was on the record and recorded, Zirlin asked if CNN could run his answers by his PR team before publishing. Where was Axie cofounder Jeff Jiho Zirlin on that day? He was at a party in Los Angeles caught off guard by the press. On March 23, a hacker stole an eye-watering $625 million in crypto from the Ronin network, the blockchain powering the popular play-two-earn game Axie Infinity. If you want to receive these blog posts as soon I publish them, send me your email.You can reach me here or DM me on Twitter. I’m available for freelance journalism projects.If you like my work, consider subscribing to my Patreon for as little as $5/month.
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