News Report
March 29, 2022

Ronin Network Compromised

Ronin Network is in charge of powering the play-to-earn Axie Infinity and other NFT games. On January 14th, the company had 250,000 active unique addresses, 2.5 million Ronin wallet downloads and 5 billion in deposited value.

On March 29th, the company announced a security breach. The hack actually happened 6 days before the public announcement. On March 23rd 173,600 Ethereum and 25.5M USDC were drained from the from the Ronin bridge in two transactions.

The hacker forged fake withdrawals managing to steal five validator private keys out of nine requested. This took place due to the hackerā€™s access to Sky Mavisā€™ four keys plus the Axie DAO one.

Somehow, the hack was only discovered 5 days later, thanks to a user that was unable to withdraw 5.000 ETH from the Ronin bridge.


The company is currently working with law enforcement officials, cryptographers and Ronin investors. It therefore claims that all of the RON, AXS and SLP on Ronin are safe. However, ETH and USDC deposits were all drained from the bridge contract.


The work of Ronin Network is currently suspended and the users are not able to deposit or withdraw funds to the Network.
Katana Dex website is under maintenance due to the inability to deposit and arbitrage funds to Ronin Network.

Read related posts:

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related.Valeria has a Masterā€™s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities.You can contact her at [email protected]

More articles
Valeria Goncharenko
Valeria Goncharenko

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related.Valeria has a Masterā€™s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities.You can contact her at [email protected]

Hot Stories
Join Our Newsletter.
Latest News

Web3 Fundraising Report Q3 2023: A Overview of Evolving Trends and Strategies

In this report, we explore all the trends in the AI, crypto and web3 sectors and identify ...

Know More

Virtual Reality Superior Than Video Conferencing for Remote Work Collaboration: PWC Report

In today’s modern era of remote work, the traditional landscape of digital meetings and workshops is undergoing ...

Know More
Join Our Innovative Tech Community
Read More
Read more
Chainlink (LINK) Announces Stacking Mechanism v0.2 Upgrade to Improve Network Functionality
Markets News Report
Chainlink (LINK) Announces Stacking Mechanism v0.2 Upgrade to Improve Network Functionality
November 30, 2023
Seraph Studio Launches ARPG Web3 Game ‘SERAPH: In The Darkness’ on Arbitrum One
Business News Report
Seraph Studio Launches ARPG Web3 Game ‘SERAPH: In The Darkness’ on Arbitrum One
November 30, 2023
NASA and IBM Partner to Develop Geospatial AI for Weather Prediction
News Report Technology
NASA and IBM Partner to Develop Geospatial AI for Weather Prediction
November 30, 2023
AntPool to Refund Record $3 Million Bitcoin Transaction Fee After User Error
News Report
AntPool to Refund Record $3 Million Bitcoin Transaction Fee After User Error
November 30, 2023
What You
Need to Know

Subscribe To Our Newsletter.
Daily search marketing tidbits for savvy pros.