What Gamers Can Learn From The Axie Infinity Debacle


Early last year, the popular blockchain game, Axie Infinity, became subject to the largest cryptocurrency to date when hackers stole $625 million worth of in-game assets. By targeting Ronin, a blockchain service run by Axie Infinity’s owners, the hackers were able to take control of the entire network, and seamlessly send 173.600 ethers, as well as withdrawing $25.5 million of USD coin.

The theft comes as a significant blow to the rising popularity of blockchain games that, as well as Axie Infinity, include releases like Decentraland and The Sandbox. And, with players paying anywhere from $100-$1000 just to get started on Axie Infinity, it has naturally raised some doubts about the game’s long-term financial viability.

This is especially true as the Ronin hack joins a long line of wallets attacked in a recent spate of crypto crimes. But, as with any crime of this nature, the Axie Infinity hack can serve as a warning that reminds us all to improve our security online. For gamers looking to enjoy blockchain decentralization, crimes like these certainly shouldn’t be off-putting, but they should encourage more intentional, informed crypto security standards, like the following –

1. Be wise with your passwords​

Password struggles aren’t exactly new, but with 53% of online users still using the same password for various accounts, it remains a significant security weak point for crypto wallets. We get it gamers, the last thing you want to be doing is thinking about a wealth of different passwords for every game or crypto wallet that you’re utilizing at a given time. But, for the sake of a little extra effort, you could save yourself from being wiped out in one fell swoop.

2. Don’t assume game wallets are best​

Given that it was developed by Axel Infinity’s creators, most players automatically kept their in-game crypto within Ronin. Hence hackers were able to get hold of so much. Unfortunately, like many game-specific wallets, Ronin made the mistake of being more centralized than many DeFI services for the sake of ease. This makes such wallets a far more substantial risk factor and can be avoided by simply moving your cryptocurrencies away from the game, either for direct exchanges on a platform like Geekmetaverse or to a truly decentralized wallet such as Exodus.

3. Don’t fall for phishing​

Phishing scams are almost as old as the internet, and they’re still thriving across crypto-specific attacks, including one in 2001 that directly attacked Ronin. Worse, attackers will often target in-game chats and communities, making it especially crucial for gamers to always be on the lookout. Most obviously, this means always double-checking any email or chat links before you click. Furthermore, always reach out to the game’s development team for verifications if in doubt. And, of course, no matter what a ‘fellow gamer’ claims, never give out your private keys!

Bitcoin gaming feels a lot like a step toward the future, but it’s down to you to ensure the viability of that future with these crucial tips!

Latest content