Ronin Bridge Hacked, Over $12 Million Stolen

Aug 6, 2024, 01:11 PM

Ronin Bridge, part of the Axie Infinity ecosystem, was hacked, resulting in a loss of over $12 million in cryptocurrency. According to PeckShield, the hack involved $9.33 million. The Ronin Network had previously suffered a significant security breach in March 2022, where 173,600 ETH and 25.5 million USDC were stolen. Following the recent hack, Ronin paused all operations and assured users that their funds are safe, with shortfalls to be re-deposited when the bridge reopens. The network has recovered approximately $10 million in ETH from white hats, with the USDC expected to be returned later today. Ronin will conduct an audit before reopening the bridge and will reward the white hats with a $500,000 bounty.