coinspress.com
Hackers have recently stolen $9.33 million worth of Ethereum ($ETH) from the Ronin Bridge, a sidechain linked to Axie Infinity.
The breach saw the theft of 3,996 $ETH from Ronin Bridge, which facilitates transfers between the Ronin and Ethereum networks. PeckShield, a blockchain security firm, verified the loss, prompting an immediate suspension of the bridge’s operations.
This is the third major incident involving Ronin, following a $600 million theft in March 2022 and a wallet hack in February 2024.
The 2022 attack was one of the largest in the crypto space, resulting in the theft of 173,600 $ETH and $25.5 million in USDC. The hackers exploited vulnerabilities in the bridge’s system, using social engineering to siphon off funds.
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In 2024, the crypto sector has experienced $266 million in losses from 16 breaches. The WazirX attack, allegedly by North Korea’s Lazarus Group, was the most significant, with 61,154 $ETH still under the hackers’ control.
Other notable breaches include a $24 million loss for Compound Finance and an $11 million loss for Li.Fi. Overall, over $1.9 billion has been lost this year due to various hacks and scams, marking a 16.3% increase from the previous year. Gala Games also suffered a $22 million loss, with hackers trading tokens for $ETH.