Ronin Bridge Update Triggers $12M Theft

On August 6, the work of the Ronin Bridge service was temporarily suspended after the white hackers brought tokens from the platform in the amount of $ 12 million.

The management of Ronin Network reported that early morning They were notified of the possible vulnerability in the system. After checking the messages, the bridge was suspended about 40 minutes after the first signs of suspicious activity were detected. In the process of updating the bridge, an error arose that led to an incorrect interpretation of the required threshold of the votes of the bridge operators necessary to withdraw funds.

As a result of the incident, 4,000 ETH (about $ 9.8 million), and USDC tokens in the amount of $ 2 million were withdrawn from the platform. Ronin Network developers are now negotiating with hackers on the return of stolen funds.

White hackers are specialists who attack or operate on the purpose of identifying and eliminating vulnerabilities before real attackers can use them. Bridges, in turn, are tools for transmitting tokens between different blockchains, where they were not originally supported.

It is worth noting that this is not the first major incident involving Ronin Network. In 2022, the network suffered from large -scale hacking, when the hacker used stolen private keys to fake conclusions, which led to a loss of $ 625 million. The case became one of the largest decentralized finance in the history (Defi).

price ron

Despite the current incident, Ronin Network Ron tokens demonstrated an increase of 6.1% over the past 24 hours amid the general rise in the market and remained practically unchanged after the announcement of hacking.

/Reports, release notes, official announcements.