According to the official Axie Infinity Discord and the official Ronin Network Twitter thread, along with their Substack page, the Ronin Bridge and Katana Dex were stopped after suffering an exploit for 173,600 Ethereum (ETH) and 25.5 million USD Coin ( USDC), worth a combined $612 million at Tuesday prices. It’s a statement, its developers said they “are currently working with law enforcement officials, forensic cryptographers, and our investors to ensure that all funds are recovered or refunded. All [tokens] AXS, RON and SLP at Ronin are safe right now.”
There has been a security breach on the Ronin Network.https://t.co/ktAp9w5qpP
— Ronin (@Ronin_Network) March 29, 2022
There has been a security breach in the Ronin Network.
As told by the Ronin developers, the attacker used hacked private keys to fake withdrawals, draining funds from the Ronin bridge in just two transactions. Even more importart, the attack happened on March 23, but was only discovered on Tuesday after a user reportedly discovered problems after being unable to withdraw 5,000 in ETH from the Ronin bridge. At press time, RON, Ronin’s primary government token, is down almost 20% to $1.88 in the last hour.
This is a developing story and will be updated as new developments take place.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Keep reading:
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.