Analysis of the Ronin Bridge Exploit
On March 23, 2022 an exploit of the Ronin bridge was announced by the network. In this article, we will review how the hack occurred, and how it could have been prevented. The Ronin bridge is similar to other bridge technology, whereby an asset in one network, in this case Ethereum -ETH, is locked in a contract, and an equivalent of it, in this case WETH, is created in the other network, in this case the Ronin network.
Ronin network described the exploit somewhat clearly in a release on their site: “ There has been a security breach on the Ronin Network …
Originally published at https://medium.com on April 20, 2022.