Ronin Network’s $12M Close Call: White-Hat Hackers Save the Day Amid Bridge Blunder
Ronin Network faced another security breach as white hat hackers exploited an undocumented vulnerability, withdrawing $12 million in ETH and USDC. The breach, caused by a recent bridge update, was quickly mitigated. The funds were returned, and the hackers were rewarded with a $500,000 bounty.
Hot Take:
Oh, Ronin Network, you really know how to keep the drama alive! From a $625 million heist to a $12 million forced audit, your bridge has more plot twists than a Hollywood blockbuster. Maybe it’s time to invest in some serious cybersecurity before the next sequel?
Key Points:
- White hat hackers exploited a flaw in Ronin bridge, withdrawing $12 million in ETH and USDC.
- The bridge was paused for 40 minutes after the exploit was demonstrated.
- The cause was a recent update that introduced a security flaw in the governance process.
- All stolen funds were returned, and white-hats received a $500,000 bounty.
- Ronin Network plans to abandon the current structure for a more secure solution.
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