• Ronin Community suspends bridge after $9.8M fraud.
• Early updates recommend it might be a white hat hacker.

Ronin, the gaming blockchain community that powers the Axie Infinity sport, introduced it was pausing Bridge.

The Aug. 6 announcement comes amid a suspected white hat hack that’s believed to have led to the lack of greater than $9.8 million to MEV Bot.

what occurred?

The Ronin vulnerability reportedly allowed attackers to steal 3,996 Ether (ETH) tokens from the blockchain. On-chain safety platform X alerted the group to the alleged hack through a submit on the platform.

#PecShieldAlert Ronin Community #Whitehack? Or Hacked? (Roughly $9.33 million) pic.twitter.com/wfaY0zhVdI

— Peck Defend Alert (@PeckShieldAlert) August 6, 2024

In an replace, Ronin acknowledged the vulnerability and famous that the community pause will permit its safety staff to analyze earlier than submitting a report.

“The Ronin Community bridge has been paused whereas we examine a report from a white hat concerning a possible vulnerability in MEV,” Aleksander Larsen, co-founder of Axie Infinity and Ronin Community, stated in an announcement posted to X.

“We'll have extra info to share quickly,” added Larsen, who’s also called “Psycheout” on X.

He stated the bridge at present has greater than $850 million secured and that funding is safe.

Are you a white hat hacker?

The newest incident with Ronin Bridge comes at a time when the market is reeling from a significant worth crash. AXS costs plummeted to a low of $3.89 however recovered following a market-wide rally. AXS is buying and selling round $4.41 and is up over 11% previously 24 hours on the time of writing.

Not like when AXS plunged in March 2022 after a $625 million fraud scandal, merchants haven’t reacted negatively to the information.

Maybe this is because of preliminary reviews that the $9.8 million hack on August 6 was possible a white hat hack. If that is true, the attackers will possible return the funds after Ronin fixes the vulnerability.