{"id":436899,"date":"2024-08-06T15:46:47","date_gmt":"2024-08-06T14:46:47","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=436899"},"modified":"2024-08-06T15:46:47","modified_gmt":"2024-08-06T14:46:47","slug":"ronin-network-hit-by-9-85m-exploit-but-ron-token-surges-11","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/ronin-network-hit-by-9-85m-exploit-but-ron-token-surges-11\/","title":{"rendered":"Ronin Network hit by $9.85M exploit but RON token surges 11%"},"content":{"rendered":"<p><a href=\"https:\/\/cryptoslate.com\/coins\/ronin\/\">Ronin<\/a> Network co-founder Aleksander Larsen <a href=\"https:\/\/x.com\/Psycheout86\/status\/1820771028420739140?t=kT_IHsrLePQGUIBqsgEucw&s=19\">announced<\/a> that the Ethereum sidechain has been temporarily paused to investigate a potential Maximal Extractable Value (MEV) exploit.<\/p>\n<p>On Aug. 6, blockchain security firm Cyvers <a href=\"https:\/\/x.com\/CyversAlerts\/status\/1820773116399763608\">reported<\/a> that an MEV bot siphoned 4,000 <a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">ETH<\/a>, valued at $9.85 million, from the network.<\/p>\n<p>Despite this incident, the network's native RON token remains unaffected, rising over 10% in the past 24 hours to $1.39 amid a general crypto market uptrend, according to <em>CryptoSlate's<\/em> data.<\/p>\n<p><span style=\"color: #333333; font-size: 22px; font-weight: bold;\">White hat hackers involved?<\/span><\/p>\n<p>Security experts at Peckshield suggested that a white hat hacker carried out the attack.<\/p>\n<p>Larsen corroborated this view, noting that the team was investigating reports from white hat hackers regarding a possible MEV exploit of the blockchain network linked to the popular play-to-earn game <a href=\"https:\/\/cryptoslate.com\/products\/axie-infinity\/\">Axie Infinity<\/a>.<\/p>\n<p>He added:<\/p>\n<blockquote><p>&#8220;We will follow up with more information shortly. The bridge currently secures over $850 million which is safe.&#8221;<\/p><\/blockquote>\n<p>White hat hackers typically exploit software to find and fix security flaws, often returning stolen funds either for a reward or voluntarily. If this is the case, the funds may be returned to the platform.<\/p>\n<p>Meanwhile, Cyvers noted that the address of the deployer of the Axie infinity contract has attempted to reach out to the &#8220;white hat&#8221; hacker by sending a message that <a href=\"https:\/\/x.com\/CyversAlerts\/status\/1820777048387858724\">reads<\/a>:<\/p>\n<blockquote><p>&#8220;Hey, thanks a lot for white hat saving user funds today. Can we chat over Blockscan chat?&#8221;<\/p><\/blockquote>\n<h2>Lax security?<\/h2>\n<p class=\"s3\">Market experts have raised concerns about Ronin's bridge security in light of the attack.<\/p>\n<p class=\"s3\">Blockchain analyst ZachXBT highlighted previous significant breaches, including a <a href=\"https:\/\/cryptoslate.com\/axie-infinity-developers-ronin-network-loses-615-million-to-hackers\/\">2022 exploit<\/a> involving 173,600 Ethereum, worth over $615 million, and the recent $9.7 million hack of the platform's co-founder Jeff Zirlin in February 2024.<\/p>\n<p class=\"s3\">He <a href=\"https:\/\/x.com\/zachxbt\/status\/1820769277374246926\">stated<\/a>:<\/p>\n<blockquote><p>&#8220;[These attacks] just show mismanagement, if anything. The first and second hack were Lazarus Group private key compromises.&#8221;<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Ronin Network co-founder Aleksander Larsen announced that the Ethereum sidechain has been temporarily paused to investigate a potential Maximal Extractable Value (MEV) exploit. On Aug. 6, blockchain security firm Cyvers reported that an MEV bot siphoned 4,000 ETH, valued at $9.85 million, from the network. Despite this incident, the network&#8217;s native RON token remains unaffected, [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":436905,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16041],"tags":[72190,77095],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ronin Network hit by $9.85M exploit but RON token surges 11%<\/title>\n<meta name=\"description\" content=\"$9.85 million MEV exploit forces Ronin Network to pause operations amid security concerns.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/ronin-network-hit-by-9-85m-exploit-but-ron-token-surges-11\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ronin Network hit by $9.85M exploit but RON token surges 11%\" \/>\n<meta property=\"og:description\" content=\"$9.85 million MEV exploit forces Ronin Network to pause operations amid security concerns.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/ronin-network-hit-by-9-85m-exploit-but-ron-token-surges-11\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-06T14:46:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/08\/white-hat-hacker.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/ronin-network-hit-by-9-85m-exploit-but-ron-token-surges-11\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/ronin-network-hit-by-9-85m-exploit-but-ron-token-surges-11\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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