Ronin Network Suspends Bridge 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 Response
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 X. Ronin confirmed the vulnerability in an update, noting that the network pause will allow its security team to investigate before providing a report. The Ronin Network bridge has been suspended while they investigate white hat reports of potential MEV vulnerabilities.
White Hat Hacker or Cybercriminal?
The latest incident involving Luoning Bridge comes as the market is reeling from a sharp drop in prices. Axie Infinity shares fell to a low of $3.89, but rebounded as the broader market recovered. Unlike a previous breach in 2022 that caused a significant price drop, traders did not react negatively to the news of the $9.8 million hack. Initial reports suggest that it was likely a white hacker attack, and if this is the case, the attacker is expected to return the funds after Ronin fixes the vulnerability.
