Axie Infinity's Ronin Bridge Suspends Operations After Hack Drains Over $10M in Cryptocurrency

Ronin Bridge (RON), a multi-signature cross-chain bridge that connects various networks with the Ronin Network, was allegedly exploited on Tuesday

Axie Infinity’s Ronin bridge has been halted after over $10 million in cryptocurrency was drained from the protocol.

According to reports on Tuesday, Aug. 6, suspicious transactions drained millions of dollars worth of crypto from the liquidity pool of Ronin Bridge (RON), a multi-signature cross-chain bridge that connects various networks with the Ronin Network.

#PeckShieldAlert @Ronin_Network #whitehacked? or Hacked? (w/ ~ $9.33M) pic.twitter.com/wfaY0zhVdI

Blockchain analysis firm PeckShield noted in two separate posts that an unidentified entity withdrew $10.3 million in crypto from the protocol in two suspicious transactions.

In response, Aleksander Larsen, co-founder of Ronin Network, stated in a tweet that the team “will follow up with more information shortly,” adding that the bridge “secures over $850 million which is safe.” He also noted that the team is looking into a “report from whitehats about a potential MEV exploit.” No further details were provided.

Related: Chainlink Keepers vulnerability exploited to steal $9.33M from Ronin bridge

An earlier report from blockchain security firm Forta Network also highlighted the suspicious transactions, adding that the total amount of crypto being drained from the bridge could be as high as $13.9 million. Forta also noted that the transactions were being performed by a “trusted֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯֯

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