March 30, 2022

Beosin is tracing the whereabouts of the funds in the Ronin attack

According to Beosin Alert — Blockchain Security Situational Awareness Platform, the Axie Infinity sidechain Ronin was attacked. 173,600 ETH and 25.5 million USDC were stolen, with a total value of approximately 615 million US dollars. Beosin is investigating the cause of the breach and tracking the flow of funds.

As a full-service provider of blockchain ecosystem security, Beosin gives the following suggestions for cross-chain bridge projects:

1. Pay attention to the security of validators;

2. If the signature service goes offline, then update the security policy, close corresponding service modules, and consider the risk of signature account addresses being compromised

3. For multi-signature verification, the multi-signature services must be logically isolated, and the signature content must be verified independently. It must be made impossible for a subset of validators to directly request signature from other validators.

4. The project party should monitor all transactions in real time and have real time automatic alerts on abnormal transactions.

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