Ronin Network Bridge Hacked for $12M in ETH and USDC, Marks Another Blow to the Troubled Network-web3.0-php.cn

Home

web3.0

Ronin Network Bridge Hacked for $12M in ETH and USDC, Marks Another Blow to the Troubled Network

WBOYWBOYWBOYWBOYWBOYWBOYWBOYWBOYWBOYWBOYWBOYWBOYWB

Aug 06, 2024 pm 09:45 PM

Ethereum Hack USDCRonin Bridge $12M

In a significant blow to the Ronin Network, the blockchain bridge has reportedly been hacked. It has resulted in the theft of approximately $12 million in Ethereum (ETH) and USD Coin (USDC).

Ronin Network Bridge Hacked for M in ETH and USDC, Marks Another Blow to the Troubled Network

Blockchain bridge Ronin Network has suffered a hack, leading to the theft of approximately $12 million in Ethereum (ETH) and USD Coin (USDC), as reported by on-chain analytics tracker Peck Shield Alert.

Two suspicious transactions were detected on the Ronin bridge, according to Peck Shield. The first transaction involved the movement of 3,996 ETH, valued at around $9.86 million at press time. The second transaction saw the shifting of nearly 2 million USDC tokens.

These transactions brought the total stolen amount to $12 million, prompting immediate action from the Ronin Network team. The Ronin bridge was swiftly paused to prevent further losses.

Alexander Larsen, co-founder and COO of Axie Infinity and Ronin Network, addressed the situation on X. He stated, “The Ronin Network bridge has been paused while we investigate a report from whitehats about a potential MEV exploit. We will follow up with more information shortly. The bridge currently secures over $850M which is safe.”

The latest breach adds to a series of security incidents that have plagued the Ronin Network. Crypto sleuth ZachXBT highlighted the network’s troubled history, pointing out the $600 million hack in 2022. He also mentioned the breach of Axie Infinity and Ronin Network co-founder Jeff “Jihoz” Zirlin’s wallets, which resulted in a $10 million crypto hack.

As the Ronin bridge hack investigation progresses, some market experts are speculating that the current incident may be a whitehat hack, where ethical hackers identify and report vulnerabilities to help secure the network. However, there has been no official confirmation regarding the nature of the hack. Larsen’s comment seems to indicate an MEV exploit and might reject the involvement of whitehats.

The above is the detailed content of Ronin Network Bridge Hacked for $12M in ETH and USDC, Marks Another Blow to the Troubled Network. For more information, please follow other related articles on the PHP Chinese website!

Statement

The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

Tutorial on how to set gate.io to Chinese gate.io to set ChineseApr 22, 2025 am 09:12 AM

Gate.io can be set as the Chinese interface through the following steps: 1. APP: Log in, enter the Personal Center, find "Settings", select "Language", select "Simplified Chinese" or "Traditional Chinese", confirm, restart. 2. Web version: Visit the official website, log in, find the language selection button, select "Simplified Chinese" or "Traditional Chinese", refresh the page, and improve the transaction experience.

How to register for Ouyi account Ouyi registration full tutorialApr 22, 2025 am 09:09 AM

The steps to register an Ouyi account are as follows: 1. Prepare a valid email or mobile phone number and a stable network; 2. Visit Ouyi official website; 3. Enter the registration page; 4. Select the registration method and fill in the information; 5. Obtain and fill in the verification code; 6. Agree to the user agreement; 7. Complete registration and log in, carry out KYC and set security measures.

How to register a Binance account Binance registration tutorialApr 22, 2025 am 09:06 AM

The steps to register a Binance account include: 1. Prepare a valid email or mobile phone number and a stable network; 2. Visit Binance official website; 3. Enter the registration page; 4. Select the registration method; 5. Fill in the registration information; 6. Agree to the user agreement; 7. Complete verification; 8. Obtain and fill in the verification code; 9. Complete registration. After registering, it is recommended to log in to your account, conduct KYC verification, and set up security measures.

How to register a Sesame Open Account Sesame Open Account Full Tutorial for Registration for NoviceApr 22, 2025 am 09:03 AM

To register a Sesame Door account, you need to prepare a valid email or mobile phone number and a stable network. The steps include: 1. Visit the official website, 2. Enter the registration page, 3. Select the registration method, 4. Fill in the registration information, 5. Get and fill in the verification code, 6. Agree to the user agreement, 7. Complete the registration. After successful registration, you need to log in to your account, perform KYC identity verification, and set security measures.

A must-see for beginners! Ten common exchange usage tutorialsApr 22, 2025 am 09:00 AM

The principles of choosing a cryptocurrency exchange include: 1. Security, 2. Compliance, 3. User experience, 4. Transaction fees, 5. Currency selection, 6. Liquidity. Tutorials include: 1. Register an account, 2. Identity authentication (KYC), 3. Security settings, 4. Recharge, 5. Spot transactions, 6. Withdrawal.

Can two exchanges convert coins to each other? Can two exchanges convert coins to each other?Apr 22, 2025 am 08:57 AM

Can. The two exchanges can transfer coins to each other as long as they support the same currency and network. The steps include: 1. Obtain the collection address, 2. Initiate a withdrawal request, 3. Wait for confirmation. Notes: 1. Select the correct transfer network, 2. Check the address carefully, 3. Understand the handling fee, 4. Pay attention to the account time, 5. Confirm that the exchange supports this currency, 6. Pay attention to the minimum withdrawal amount.

Review of the most complete historical price since the birth of Bitcoin (2025 edition)Apr 22, 2025 am 08:54 AM

Since its birth in 2009, Bitcoin’s price has experienced many fluctuations. 1. 2009-2010: From worthless to $0.3. 2. 2011-2013: From $1 to $1,000. 3. 2014-2017: From $200 to nearly $20,000. 4. 2018-2021: From bear market to highs of $64,000. 5. 2022-2024: From falling below $20,000 to the rise after the ETF is approved.

Who is the best digital currency exchange in the worldApr 22, 2025 am 08:51 AM

There is no "best" digital currency exchange, only the "most suitable" ones because everyone has different needs. 1. Newbies should choose simple and easy-to-understand exchanges, such as Coinbase. 2. Users who focus on security should choose Coinbase or Kraken. 3. Users who pursue rich trading options should choose Binance or Ouyi. 4. Users who like to trade derivatives should choose Bybit or Ouyi. 5. Users interested in new coins should choose Sesame to open the door.