The Ronin Bridge exploiters returned the stolen Ethereum (ETH), which was worth about 10 million. White Hat hackers will receive their bounty as part of the network’s bug bounty program.

Hacking incidents are common in the crypto industry, as bad actors exploit system vulnerabilities.

Ronin Bridge Hackers Return Stolen ETH

The Ronin Network shared the update, indicating the return of nearly $10 million stolen on Tuesday. While some worth $2 million USDC stablecoin Still needing to be returned, the network rewards white-hat hackers with up to $500,000 for a show of good faith.

White Hats received the award for using their cybersecurity skills and knowledge to identify vulnerabilities. This prompted the network to conduct an audit before reopening the bridge for public use. Additionally, operations will migrate from existing structures as Ronan validators work to implement a new solution.

“ETH (~10 M) has been returned and we expect USDC to be returned later today. The Big Bounty program will reward white hats with a 500K bounty. The bridge will be audited before reopening.” We will provide updates as we progress with this audit. We aim to move the bridge operation to a new solution with Ronin’s verifiers Will work together and provide updates as work progresses. Read on.

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Ronin Bridge is an Ethereum sidechain for popular. Play to earn Game Axe Infinity. It transfers assets between the Ronin chain and the Ethereum network. The bridge currently holds more than $850 million, which is safe nonetheless. Tuesday’s event.

Tuesday Description of the attack

According to ReportsDue to security measures, the exploiters could only make $12 million. In particular, there is a pull limit, which prevents large withdrawals. This system prevented further evacuation during exploitation.

The gaming-focused blockchain cited a new update and stated that its treatments are already underway.

“After today’s bridge upgrade, deployed through the governance process, the bridge was presented with an issue that led to a misinterpretation of the bridge operators’ vote threshold required to release the funds. ” Bridge Explained.

An autopsy will be shared next week, along with strategies to prevent such incidents. Bailey.ron on X, a key project official, said Ronan Bridge’s rules are one of the things that make it a target for attacks.

“Ronin is one of the few crypto projects working on and gaining real user adoption. Coupled with its history, it attracts unwanted attention and constant fraud attempts. Despite this, Ronin is committed to righting the wrongs and protecting its community and users. will put,” Bailey.ron said.

In fact, the network has made headlines with previous exploits. In 2022, Ronan lost the network. $615 million Exploiting after a criminal uses private keys to generate fakes. This marks one of the biggest attacks in decentralized finance (D. Fi) On time.

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This development mirrors the key. security Concerns that continue to plague the DeFi space. Meanwhile, the Ronin (RON) token is down 2% in the last 24 hours, while Axi Infinity (AXSThe token has fallen 1% since the opening of Wednesday’s session.