Ronin Network Suspends Bridging After $9.8 Million Attack
Ronin, the gaming blockchain network that powers the Axie Infinity game, has announced it is suspending its bridge. The announcement on August 6 comes amid a suspected white-hat hacking campaign that resulted in more than $9.8 million being stolen from MEV robots.
The Vulnerability and Investigation
Ronin’s vulnerability reportedly allowed attackers to steal 3,996 Ethereum (ETH) tokens from the blockchain. The on-chain security platform notified the community of suspected hacker attacks through posts on social media. Ronin confirmed the vulnerability in an update, noting that the network pause will allow its security team to investigate before providing a report.
The Role of a White Hat Hacker
The latest incident involving the Luoning Bridge comes as the market is reeling from a sharp drop in prices. Unlike a previous breach in 2022, traders did not react negatively to the news of the $9.8 million hack. Initial reports indicate that this may have been a white hat hacker attack. If confirmed, the funds will be returned after Ronin fixes the vulnerability.
