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.
READ MORE: Elon Musk Files New Lawsuit Against OpenAI Co-Founders
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.