Ronin Bridge Exploit: $850 Million Safe, Operations Paused

Ronin Bridge Exploit: $850 Million Safe, Operations Paused

Ronin Bridge Exploit: $850 Million Safe Following the alleged hack of the Ronin bridge, Ronin Network Co-Founder and COO, Aleksander Leonard Larsen, took to Twitter to release a statement, saying: "We are aware of the MEV exploit and are currently investigating with the help of whitehat who discovered this exploit. As a result, the bridge is paused. All funds are safe, $850 million total. We will share a post-mortem ASAP." Blockchain Security Firm Reports $9.33 Million Drain Earlier, blockchain security firm Peckshield had reported an alleged $9.33 million drain from the Ronin bridge. The exploit involved a malicious actor manipulating the bridge's transaction validation process, allowing them to withdraw funds without proper authorization. Swift Response and Assurances Ronin Network's prompt response and assurance that all funds are safe is crucial in maintaining investor confidence. The pause in bridge operations demonstrates a commitment to security and a willingness to address the situation effectively. Ongoing Investigation The investigation into the exploit is ongoing, and Ronin Network has promised to provide a detailed post-mortem analysis once it is complete. This transparency will be essential in understanding the vulnerabilities exploited and the measures needed to prevent future attacks.