Ronin Bridge Halts Operations After $12M Whitehat Hack

Ronin Bridge paused operations on Tuesday after a whitehat hack drained $12 million in tokens—4,000 ETH (about $9.8 million) and $2 million in USDC—roughly 40 minutes after suspicious on-chain activity was detected. The team attributed the exploit to a botched bridge upgrade that caused the bridge to misinterpret the required operator vote threshold for withdrawing funds. Co-founder @Psycheout86 stated the bridge still secures over $850 million in safe assets, and Ronin is in talks with the hackers to recover the funds, following its $625 million exploit in 2022.