In a significant blow to the Ronin Network, the blockchain bridge has reportedly been hacked. It has resulted in the theft of approximately $12 million in Ethereum (ETH) and USD Coin (USDC). The Ronin bridge hack marks yet another chapter in the troubled history of the network, which previously suffered a devastating $600 million hack in March 2022.
Ronin Bridge Hack Details
According to a post by Peck Shield Alert, an on-chain analytics tracker, two suspicious transactions were detected on the Ronin bridge. The first transaction involved the movement of 3,996 ETH, valued at around $9.86 million at press time. Moreover, the second transaction saw the shifting of nearly 2 million USDC tokens.
These transactions raise the total stolen amount to $12 million, prompting immediate action from the Ronin Network team. In response to the detected exploit, the Ronin bridge was promptly paused to prevent further losses.
Alexander Larsen, co-founder and COO of Axie Infinity and Ronin Network, addr
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