Ethereum-based blockchain for play-to-earn games Ronin Network has been attacked. Exploiters stole almost $11M from the protocol's Ronin Bridge. This is the second significant attack on the network in two years.
Blockchain security firm PeckShield was the first to reveal the attack. A Maximal Extractable Value (MEV) bot withdrew 4,000 ETH ($9.33M) and $2M USDC from the bridge. Uniswap V3 later swapped the USDC for 796 WETH.
Sky Mavis' co-founder Aleksander Leonard Larsen confirmed the attack. The team has suspended activities to conduct an investigation. Larsen confirmed that the remaining $850M in the bridge is secure.
This event parallels Ronin's previous attacks. A significant $620M attack occurred on the network in March 2022. North Korea's Lazarus Group was responsible for the strike. It struck a serious hit to Ronin.
Crypto exploits remain a pervasive problem. They aren't just confined to networks — Individuals also face hazards. The problem stemmed from a wallet breach. The Ronin team is now performing a detailed analysis. They have promised to give additional information soon. Meanwhile, the crypto community remains alert.
