Ronin: Negotiating with the attacker, user funds are safe

Ronin announced an update stating that after receiving a notification from a white-hat hacker, they discovered potential vulnerabilities in the Ronin Bridge. After verification, the team suspended bridge operations about 40 minutes after the first on-chain action. The attacker extracted approximately 4,000 ETH and 2 million USDC, worth about $12 million. This extraction amount is exactly the maximum limit that can be withdrawn in a single transaction, showing that the bridge's withdrawal limit played a key role in this event and effectively prevented larger scale losses. The Ronin team stated that today's bridge upgrade introduced an issue during governance process which led to system misunderstanding of voting threshold required for fund withdrawal by bridge operators. The team is working hard to address this root cause and plans to re-vote after rigorous auditing to ensure the safety of the bridge. Currently, Ronin is negotiating with attackers who seem to be acting as white-hat hackers and are showing goodwill. Regardless of negotiation results, all user funds are safe and any shortages will be replenished when the bridge reopens. The team also said it will release post-incident analysis next week detailing technical details of this incident and future preventive measures.