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Ronin Attack Shows Cross-Chain Crypto Is a ‘Bridge’ Too Far

April 6, 2022
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Ronin Attack Shows Cross-Chain Crypto Is a ‘Bridge’ Too Far
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If you look underneath the hood, bridges like Ronin’s sometimes work by locking up cryptocurrency in good contracts on one chain, after which re-issuing these tokens in “wrapped” kind on a vacation spot chain. So for instance, should you have been to make use of the Ronin Bridge to maneuver ether (ETH) from Ethereum to Ronin, ETH would get locked up on Ethereum to function 1:1 backing for wrapped ether (WETH) issued on Ronin.

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