Hacker withdrew $625 million from Ronin sidechain
An attacker gained control of five of the nine validators to use the exploit
30.03.2022 - 07:20
565
2 min
0
.
What’s new? Ronin Network, a sidechain used by the popular game Axie Infinity was attacked by a hacker. With the exploit, the criminal withdrew more than $625 million in cryptocurrency (173 600 ETH and 25,5 million USDC), the project’s developers said on Twitter. Following the hack, the Ronin team disabled the cross-chain bridge and the Katana non-custodial exchange.
Details of the hack. According to a statement from the developers, the hacker exploited the vulnerability back on March 23. The Ronin network includes nine validator nodes that control transactions. The signatures of five of them are required to confirm a deposit or withdrawal. The hackers captured four, as well as a third-party validator operated by Axie DAO.
Most of the stolen funds are still in the hacker’s wallet. Ronin Network developers stated that they are “working with law enforcement officials, forensic cryptographers, and our investors to make sure that all funds are recovered or reimbursed.”
This hack became the largest in the history of DeFi, surpassing the Poly Network hack in terms of funds stolen, in which the attackers withdrew $611 million in cryptocurrency.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$98 486
BTC
+1.03%
-
Ethereum
$3 367.31
ETH
+7.48%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.39
XRP
+22.72%
-
Dogecoin
$0.390656
DOGE
+1.52%
-
Cardano
$0.8602
ADA
+9.68%
-
Bitcoin Cash
$488.44
BCH
-5.46%
-
Polkadot
$6.06
DOT
+6.54%
-
Stellar XLM
$0.282293
XLM
+14.82%
-
Litecoin
$90.1
LTC
-0.36%