Ronin Network Hacked Again, Losing $11.33 Million

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. PeckShield Discovers Exploit
  2. Ronin Network's Response
  3. MEV Bot Involvement


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

    PeckShield Discovers Exploit

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

    #PeckShieldAlert @Ronin_Network #whitehacked? or Hacked? (w/ ~ $9.33M)

    Ronin Network's Response

    Following the alert, 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 while the team investigated the breach.

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

    MEV Bot Involvement

    The exploit appears to have been facilitated by an MEV bot, specifically "0x4ab," which accidentally exploited a loophole in the Ronin Bridge protocol. Blockchain data reveals that the MEV bot "0x4ab" executed the transaction, withdrawing a substantial amount of funds. A portion of the funds, about 3.9 Ether, was sent to a wallet known as "beaverbuild."

    This isn't the first time Ronin has been compromised. In March 2022, the network suffered a massive loss of over $615 million in USDC and Ether due to an exploit involving hacked private keys used to forge fake withdrawals from the Ronin Bridge.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

OpenAI Launches GPT56 Sol Ultrafast, Boosting AI Speed and Efficiency

chest

OpenAI has launched a limited preview of GPT56 Sol Ultrafast, a new service tier that significantly increases the speed of its AI model.

user avatarMiguel Rodriguez

Google Unveils Gemini 37 Flash, Its Most Intelligent AI Model Yet

chest

Google has launched Gemini 37 Flash, an AI model optimized for coding and business workflows, offering significant speed and efficiency improvements.

user avatarRajesh Kumar

UBS Considers Cryptocurrency Trading for Private Banking Clients

chest

UBS is evaluating cryptocurrency trading options for private banking clients in Switzerland, with potential expansion to Asia-Pacific and US markets.

user avatarArif Mukhtar

UBS Significantly Boosts Bitcoin ETF Holdings

chest

UBS has significantly increased its Bitcoin ETF holdings, tripling its stake in BlackRock's iShares Bitcoin Trust to approximately 90 million shares.

user avatarLuis Flores

Alphabet Diversifies Stock Portfolio in Q2 2026

chest

Alphabet has updated its stock portfolio, now owning 28 stocks across various sectors to ensure long-term growth.

user avatarMaria Gutierrez

SpaceX Drops AMD in Favor of Nvidia for AI Projects

chest

SpaceX announced it will exclusively use Nvidia chips for AI projects, dropping AMD, during a quarterly earnings call on August 4, 2023.

user avatarDavid Robinson

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.