Ronin Bridge Hacked for $9.33M, Halts Operations to Investigate

Ronin Bridge, an Ethereum sidechain integral to the popular play-to-earn non-fungible token (NFT) game Axie Infinity, has fallen victim to a significant hack.

A recent analysis by blockchain security company PeckShield has revealed that the Ronin Bridge, an Ethereum sidechain used by the popular play-to-earn non-fungible token (NFT) game Axie Infinity, has fallen victim to a hack. The breach resulted in the loss of 3,996 Ethereum (ETH), valued at approximately $9.33 million.

“The Ronin bridge has been paused while we investigate a report from whitehats about a potential MEV exploit,” Larsen wrote in a follow-up tweet.

This isn’t the first time the Ronin Bridge has faced security challenges. In 2022, the Ethereum sidechain suffered a staggering $600 million attack when hackers gained access to private keys for its validator nodes. This compromise affected five validator nodes, the minimum required for transaction approval.

To mitigate the impact, project developers raised $150 million to reimburse affected users. Subsequently, they temporarily closed the Ronin Bridge, only to reopen it months later.

The recent 3,996 ETH exploit on the Ronin Network was flagged by blockchain explorer Etherscan as an MEV bot. MEV refers to “maximal extractable value,” where profit is derived from reordering transactions awaiting blockchain inclusion.

In a related incident, scroll-based money market Rho Markets lost 2,203 ETH (over $7.5 million) due to a “price oracle misconfiguration.” Fortunately, the responsible group returned the funds after acknowledging their mistake.

The Ronin Bridge joins a list of high-profile bridge hacks. In March 2022, hackers secured five out of nine validators, making off with a staggering $624 million. Additionally, three of the largest crypto hacks in history involve bridges:

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