Hackers return $12 million taken during Ronin breach
Hackers have returned $12 million to the Ronin gaming blockchain, which they had previously stolen by exploiting an undocumented vulnerability, the company announced earlier this week.
The hackers, who seem to be acting as white-hats with good intentions, identified an exploit in the bridge, a vital part of the Ronin Network. The Ronin blockchain is specifically tailored for Axie Infinity, one of the leading play-to-earn blockchain games.
Earlier today, we were notified by white-hats about a potential exploit on the Ronin bridge. After verifying the reports, the bridge was paused approximately 40 minutes after the first on-chain action was spotted.
— Ronin (@Ronin_Network) August 6, 2024
The actors withdrew ~4K ETH and 2M USDC, valued at ~$12M, which…
During the attack, the threat actor withdrew 4,000 ETH and 2 million USDC, amounting to $12 million — the maximum limit that can be withdrawn from the bridge in a single transaction.
Ronin stated that the exploit was caused by a recent upgrade to the bridge, which “introduced a flaw that caused the bridge to misinterpret the required vote threshold from bridge operators to approve fund withdrawals.”
The platform announced plans to restructure the bridge to enhance security. “We will collaborate with the Ronin validators to implement a new solution and will provide updates as the work progresses,” the company added.
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