Ronin Network: Cyberpunks Swipe $9.7M Ethereum Worth

Ronin Network underwent hackers accessing around $9.7 million worth of Ethereum from it’s wallets, transferring it through the Tornado Cash mixer.

On Thursday, hackers gained access to about $9.7 million worth of Ethereum from Ronin network wallets and sent it through the Tornado Cash mixer.

Jeff Jiho Zirlin, co-founder of Ronin and NFT game Axie Infinity, took to Twitter (X) to express his regret for being affected by the attack. The theft of 3,248 ETH from Ronin network wallets and its subsequent transfer to three Ethereum wallets across the network’s bridge was reported by security firms PeckShield and Webacy.

To further conceal its ultimate destinations, the stolen ETH was redirected through Tornado Cash, an automated service that mixes funds from numerous users.

According to Zirlin’s statement on X, “This has been a tough morning for me,” the report is true. Two of my email accounts have been hacked. This assault is confined to my individual accounts and is unrelated to the Ronin chain’s validation or operations.

Also, the stolen keys are unrelated to how Sky Mavis is run. Rest assured, we have implemented robust security protocols for all operations involving the chain.

To everyone who has contacted us, we are truly grateful. Not a worry. I will overcome this challenge. Together, on this enchanted path, I will keep moving forward, Zirlin promised.

Recent Attack Has No Impact on Ronin Network’s Security

Echoing Zirlin’s comments, fellow Sky Mavis co-founder Aleksander “Psycheout” Larsen tweeted separately, denying any connection between the attack and the security of the Ronin Network, its Ethereum bridge, or Sky Mavis money.

I can confirm that there is no problem with the bridge and Ronin is not compromised,” Larsen tweeted in response to a recent deletion. As happens on every chain, a wallet has been compromised and the monies are being Tornado cashed.

He went on to say, “The bridge itself maintains top security, has undergone numerous audits and halts withdrawals when excessive activity is detected.”

As of this writing, one Ethereum token is trading at $2,923, a decrease of around 3%.

Ronin tokens (RON) have experienced substantial price swings within the past 30 days. The token’s price went up significantly from its initial $2.27 valuation, peaking at $3.49 until a correction caused it to fall to $2.40.

After that, there was another sharp rise, and on or around February 20th, it was close to $3.50. The value of the token, however, quickly recovered and is now $2.97, a 31.52% rise from its previous level.