Ronin Games CrossChain Bridge Suspected to Have Been Hacked by White Hat Hackers Resulting in Suspension of Operations After 9 Million Token Theft

According to a report from CoinDesk, the cross-chain bridge of the gaming public chain Ronin was suspended on Tuesday (6th) due to a significant white hat hacker attack that resulted in the theft of tokens worth $9 million. Aleksander Larsen, co-founder of Ronin developer Sky Mavis, stated on social media that, according to cybersecurity firm SlowMist, the vulnerability in the Ronin cross-chain bridge was caused by a modification of the weights to unintended values, allowing funds to be withdrawn without undergoing any multi-signature threshold checks. Another security firm, Beosin, also released an analysis of the incident. Following the news of the vulnerability in the Ronin cross-chain bridge, the price of its native token RON briefly fell by about 5%, but had recovered to $1.4 by the time of publication. Ronin is an Ethereum sidechain network built by Sky Mavis, the developer of the blockchain game Axie Infinity. In March 2022, the Ronin cross-chain bridge lost over $600 million due to a hacker attack, allegedly orchestrated by the North Korea-associated Lazarus Group.