Ethereum Sidechain Ronin Suffers $625 Million Hacker Attack
The Ronin sidechain involved in the Axie Infinity blockchain game has been hacked. The attacker has withdrawn crypto assets worth about $625 million using an exploit.
The hacker has managed to steal 173,600 ETH, as well as $25.5 million in USD Coin.
The developers of the project have already disabled the Ronin cross-chain bridge and the Katana non-custodial exchange.
Part of the funds have reportedly been sent to the centralized exchanges FTX and Crypto.com.
According to the project, the attacker exploited the vulnerability on March 23. To implement the attack, he or she managed to gain control over five of the nine validators.
The price of the RON token has fallen by more than 20% over the past day.