Ronin Network, an Ethereum Virtual Machine blockchain for play-to-earn games, just witnessed its second hack in roughly two years. The exploiters have siphoned more than $11 million from the protocol.
A tweet by the blockchain security firm PeckShield revealed that a Maximal Extractable Value (MEV) bot just withdrew Ether (ETH) and USD Coin (USDC) worth $11.33 million from the network’s Ronin Bridge. The tweet speculated whether the transactions were executed by exploiters or whitehat hackers.
Ronin Bridge Loses $11.33M in Exploit
The first transaction saw 4,000 ETH worth $9.33 million leaving the Ronin Bridge to the MEV bot address. In the second one, the MEV bot withdrew approximately $2 million worth of USDC and swapped it for 796 Wrapped Ether (WETH) on the decentralized exchange Uniswap V3.
Shortly after PeckShield’s alert, Aleksander Leonard Larsen, the co-founder and chief operating officer of Sky Mavis, the developer behind the Ronin network, disclosed that the protocol’s
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