China News by Thebittimes.Com

Jihoz, the co-founder of crypto gaming platform Axie Infinity, has reportedly been hacked for $9.7 million from two ‘compromised’ personal wallets. Over 3 million RON tokens were drained on the Ronin Network before being sold for ETH, causing a 9% drop in the token’s price, according to data from CoinMarketCap. According to Peckshield, over 3,000 ETH were withdrawn from the game’s Ronin Bridge, which also suffered a loss from compromised keys in 2022. The funds were immediately deposited into crypto mixing service Tornado Cash. This has been a tough morning for me.  Two of my addresses have been compromised. The attack is limited to my personal accounts, and has nothing to do with validation or operations of the Ronin chain. Additionally, the leaked keys have nothing to do with Sky Mavis operations.… — Jihoz.ron (@Jihoz_Axie) February 23, 2024 Read more: Explainer: What to know about crypto mixer Tornado Cash Security firm Ancilia’s initial flagging of the withdrawals su...

Coinbase Ventures, the investing arm of Coinbase, has announced that it will be focusing more on decentralized finance (DeFi) and gradually moving away from centralized finance. The company recently announced a 34% drop in its deals in the second quarter of the year. The firm noted that the performance is a reflection of the general bearish market and not specifically on Coinbase Ventures. But the bearish market did not affect the company’s investments in infrastructural projects. These projects show the actual utility and the booming Web3 gaming sector. Coinbase Ventures Registers 34% Drop In Its Deal Activity Coinbase Ventures noted that its deal activity declined by 34% in Q2 2022 compared to the volume in Q2 2021. It fell from 71 to 47 quarter-over-quarter (QoQ) but remained strong at 68% year-over-year (YoY), according to the investment menu for Q2. The firm stated that the decline in the broader venture market started in the first quarter of the year, as it saw t...

Axie Infinity is one of the most popular blockchain-based games in the world. The game’s native crypto token, AXS, is currently the biggest gainer in the last 24 hours, rallying by 25.6% in the last 24 hours. Moreover, AXS has made gains of up to 26.9% in the weekly charts. Source: Coingecko Earlier this year, the Axie Infinity team disclosed its plans to decentralize the platform. The recent surge comes after the company published a new blog on how it will further decentralize its operations. The Lunacian: Axie Contributor Initiative Kickoff! https://t.co/Yjs9njT5Rv — Axie Infinity | #AxieOrigins (@AxieInfinity) December 5, 2022 Over 600 members gathered to help shape the future of the gaming platform. The ultimate objective is to empower the group to take on the duty of assisting one another in furthering the aim of the community through self-organization. Today, a group of over 600 dedicated and impactful community members have been gathered together to h...