• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Ronin Network Faces Second Major Hack: $11 Million Stolen

user avatar

by Giorgi Kostiuk

2 years ago

  1. Hack Discovery
  2. Ronin Network's Response
  3. MEV Bot Involvement


    4. The Ronin Network, known for its play-to-earn games, has been hacked again. This time, over $11.33 million was siphoned off, marking the second significant hack in two years.

    Hack Discovery

    The breach was first reported by blockchain security firm PeckShield. They revealed that an MEV bot withdrew Ether (ETH) and USD Coin (USDC) worth $11.33 million from the Ronin Bridge.

    "Ronin Bridge compromised? or Hacked? (with $9.33M)"PeckShieldAlert, August 6, 2024

    Ronin Network's Response

    Following the alert, the Ronin Network paused its operations. They confirmed the bridge was paused 40 minutes after the first on-chain action was detected to prevent further exploitation. The team started investigating the breach.

    "Earlier today, we were notified by white-hats about a potential exploit on the Ronin bridge."X Post

    MEV Bot Involvement

    The exploit appears to have been facilitated by an MEV bot, which accidentally exploited a loophole in the Ronin Bridge protocol. MEV bots analyze and execute arbitrage opportunities across decentralized finance platforms. In this case, the bot withdrew a substantial amount of funds, with a portion sent to a wallet known as 'beaverbuild.' Sky Mavis co-founder Aleksander Leonard Larsen assured users that all assets are currently safe, and the team is investigating the breach.

    This is not the first time Ronin has been compromised. In March 2022, the network lost over $615 million. The attacker exploited a backdoor through the gas-free RPC node, bypassing the network's security measures.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

CLARITY Act Bill Progress and Its Impact on Cryptocurrency Market

chest

The CLARITY Act is entering a crucial stage in the Senate, with potential implications for major cryptocurrencies.

user avatarLeo van der Veen

WLD Token Approaches Key Resistance Level in Trading

chest

The WLD token is currently trading near a critical resistance point at 0.40, which traders are watching closely.

user avatarLi Weicheng

Thirty Seconds to Mars Teams Up with World Network to Combat Ticket Bots

chest

Thirty Seconds to Mars announced a partnership with World Network to provide human-only ticket access for their upcoming concert, aiming to give verified fans exclusive perks and prevent automated buyers from snatching up tickets.

user avatarAisha Farooq

Crypto Sector Faces Major Losses in May Due to Code Vulnerabilities

chest

In May 2026, the crypto sector faced significant losses totaling 68 million due to exploits, with 66 million linked to code vulnerabilities, primarily in crosschain bridges.

user avatarElias Mukuru

Japan Pushes for Yen-Stablecoin Promotion in Asia

chest

Japan's ruling party lawmakers call for promoting yen-denominated stablecoins for settlement in Asia to enhance blockchain innovation.

user avatarMohamed Farouk

Japan's Ruling Party Proposes Legal Framework for Crypto ETFs

chest

Japan's Liberal Democratic Party (LDP) has proposed a legal framework for cryptocurrency exchange-traded funds (ETFs) to enhance the local digital assets sector.

user avatarBayarjavkhlan Ganbaatar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.