According to Axie Infinity’s official Discord and Ronin Network’s official Twitter thread, along with its Substack page, the Ronin bridge and Katana Dex have been halted after suffering an exploit for 173,600 Ethereum (ETH) and 25.5 million USDC, worth a combined $612 million at Tuesday’s prices. In a statement, its developers said “they are currently working with law enforcement officials, forensic cryptographers and our investors to make sure that all funds are recovered or reimbursed. All of the AXS, RON and SLP on Ronin are safe right now.”

The attacker used hacked private keys in order to forge fake withdrawals. We discovered the attack this morning after a report from a user being unable to withdraw 5k ETH from the bridge, they said.

the Ronin Network says “We are in the process of discussing with Axie Infinity/Sky Mavis stakeholders about how to best move forward and ensure no users’ funds are lost. Sky Mavis is here for the long term and will continue to build.”

Writer & Editor: Ravikant Upadhyay (+91.8085883358)

(Entrepreneur, Programmer, Trader, Investor, Writer, Reporter, Thinker, Mentor, Astrophile)

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Keywords: axs, blockchain, bridge, crypto, hacked, ronin,