According to CoinDesk, the prominent crypto bridging service Ronin was paused earlier Tuesday following a whitehat hack that drained $9 million in tokens from the platform. The incident was reported by co-founder @Psycheout86 in a post on X, stating, 'The @Ronin_Network bridge has been paused while we investigate a report from whitehats about a potential MEV exploit. The bridge currently secures over $850M which is safe.'
A whitehat hacker, who typically identifies security vulnerabilities to prevent malicious attacks, reportedly exploited an issue with the Ronin Bridge, resulting in the extraction of nearly 4,000 ETH. The bridge, which facilitates the transfer of tokens between different blockchains, was promptly paused to prevent further issues. Despite the incident, Ronin’s RON tokens remained stable, showing a 7.4% increase over the past 24 hours amid a broader market rise.
