The 2022 Ronin bridge theft: what happened and why bridges are risky

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Archive note: This article covers the Ronin bridge attack disclosed in March 2022.

The Ronin network reported that an attacker compromised validator keys and withdrew crypto-assets from its bridge. US government material later described the theft as approximately USD 620 million and attributed activity to the Lazarus Group.

A bridge can combine smart contracts, validators, custody arrangements and off-chain controls. Compromise of a small number of privileged keys can therefore affect assets even when the connected blockchains continue operating normally.

Government reference: US Financial Stability Oversight Council digital-assets report.

This historical security report is not investment advice.

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