An Ethereum (ETH)-based gaming altcoin is skyrocketing after being abruptly delisted by Coinbase, the top US-based crypto exchange platform by volume.
In a new announcement, Coinbase say that starting March 21 it will add support for Ronin (RON), a protocol developed by play-to-earn blockchain game developer Sky Mavis, the same team that created the non-fungible token (NFT)-based game Axie Infinity ( AXS).
“Coinbase will add support for Ronin to the Ronin network. Do not ship this item via other networks or your money may be lost. Transfers for this asset are available on Coinbase and CoinbaseExch in the regions where trading is supported.”
News of the announcement sent Ronin soaring, as the altcoin is trading at $3.78 at the time of writing, a gain of almost 8.5% over the past 24 hours.
According to the US Treasury Department, Ronin was hacked for hundreds of millions of dollars by the North Korean hacking group Lazarus in March 2022.
According to blockchain intelligence firm Chainalysis, The Office of Foreign Assets Control (OFAC) added the group’s Ethereum (ETH) address to the Specially Designated Nationals and Blocked Persons List (SDN) at the time.
Previous reports indicate that through a combination of human error and social engineering, the hacking group was able to take control of four validating nodes owned by Sky Mavis and one controlled by Axie’s decentralized autonomous organization (DAO), to collect a staggering sum of $600 million. to steal.
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Featured image: Shutterstock/issaro prakalung/Salamahin
