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 Hiding Place 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, hiding places will be stored in your inventory and can be opened with Keys.

Other news

OCC Releases New Guidelines for AI in Banking

The US Office of the Comptroller of the Currency (OCC) has released its first supervisory framework for artificial intelligence in banking, focusing on the implications of AI mistakes rather than its capabilities.

user avatarJesper Sørensen

Trump Media Technology Group Shares Experience Significant Decline

Shares of Trump Media Technology Group plunged 14.29% to $5.10, extending a decline that had been ongoing prior to the midterm elections.

user avatarRajesh Kumar

Technology Stocks Show Mixed Results After US Midterm Elections

Technology stocks showed mixed results after the US midterm elections, with some companies gaining while others declined.

user avatarLucas Weissmann

SEC Provides Regulatory Clarity for Canton Coin

The SEC classifies Canton Coin as a digital commodity, providing regulatory clarity for its issuance and distribution model.

user avatarFilippo Romano

Bitbase Launches ORIGIN Points Program to Reward User Engagement

Bitbase has launched the ORIGIN Points program to reward user engagement over 26 weeks, distributing 1,000,000 points weekly starting November 4, 2026.

user avatarEmily Carter

Bitbase Launches ORIGIN Points Program to Reward User Participation

Bitbase has introduced ORIGIN, a new points program rewarding user participation over six months.

user avatarTomas Novak

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.