Following a security breach that occurred on the Ronin (RON) network, the Binance investigations team is supporting the Axie Infinity team with tracking transactions related to its network bridge, in a bid to identify the hacker.

As a result, all deposits and withdrawals on the Ronin (RON) network have been suspended since March 29, 2022 while Binance supports the Axie Infinity team and law enforcement in investigating this issue. Potential hacker addresses have also been blocked, with a dedicated monitoring team in place to watch for any unusual transactions.

In addition, Binance has also paused withdrawals of Wrapped Ether (WETH) on the Ethereum network, and the convert function from WETH to ETH.

“We understand that this may impact some of our users and we seek your understanding as we work with the Axie Infinity team to resolve the matter,” Binance said in a statement issued today.

Binance says it will reopen deposits and withdrawals on the Ronin (RON) network, withdrawals for Wrapped Ether (WETH) on the Ethereum network, and the convert function from WETH to ETH once it determines the network to be stable.

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