Axie Infinity’s Ronin Bridge Hacked, $9 Million Stolen

Ronin Bridge Compromised for $9 Million 

On-chain analytics firm PeckShield confirmed the hack. Axie Infinity’s co-founder, Aleksander Leonard Larsen, stated that they have halted operations for investigations. Reports from whitehat hackers suggest a potential Maximal Extractable Value (MEV) exploit. 

Whitehat hackers are cybersecurity experts who ethically identify vulnerabilities in blockchain platforms and crypto wallets. They aim to help improve security in the crypto space. 

This isn’t the first time the Ronin Bridge has been compromised. In 2022, hackers stole $600 million after accessing private keys to the network’s validator nodes. Five validator nodes were compromised, enough to approve transactions. In response, developers raised $150 million to reimburse affected users and temporarily shut down the bridge. 

These incidents have raised concerns about the network’s governance, as the Ronin Bridge lacks decentralization, with the team serving as the only validators. Despite the attack, the price of the Axie Infinity (AXS) token rose by 9%, benefiting from the broader market recovery.