Ronin Recovers 2 Million USDC Stolen by Hackers
CryptoNewsTerminal Staff06 Aug, 2024
Ronin Recovers 2 Million USDC Stolen by Hackers
Ronin Network, the Ethereum sidechain dedicated to play-to-earn (P2E) games, recently fell victim to a sophisticated exploit that drained the platform of 12 million dollars worth of cryptocurrency. The attack, which was perpetrated by white-hat hackers, saw 4,000 ETH and 2 million USDC stolen from the Ronin Bridge. In response to the incident, Ronin Network has been working diligently with law enforcement and security experts to recover the stolen funds and enhance the security measures on its platform. The network has since regained a significant portion of the lost funds, with a total of 10 million dollars worth of ETH already returned by the white-hat hackers. The latest development in this ongoing saga is the recovery of an additional 2 million USDC by Ronin Network. This brings the total amount of recovered funds to 12 million dollars, equaling the initial amount that was stolen. Ronin Network has expressed its gratitude to the white-hat hackers who have assisted in the recovery of the stolen funds and has emphasized its commitment to providing a secure and reliable platform for its users. The network has also vowed to continue working to improve its security measures and prevent future attacks from occurring.
