2024

Ronin

Ronin Network has lost $9.8 million worth of Ether in a potential exploit, adding to the rising number of cryptocurrency hacks in 2024.
Ronin Network, one of the most popular gaming blockchains, lost 3,996 Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) tokens worth over $9.8 million.
However, the exploit may originate from a white hat hacker, or ethical hacker who is performing exploits to find the vulnerabilities in a crypto protocol, according to an Aug. 6 X <a href="https://x.com/PeckShieldAlert/status/1820769744292872240/photo/1" target="_blank" rel="noopener nofollow">post</a> by PeckShield.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-08/e8d51f07-f08c-43ad-bbbf-d5169d1a5d12.jpeg" alt="Ronin Network exploited for $9.8M in ETH, white hat hacker suspected">
 <figcaption style="text-align: center;">
 Ronin Network exploit. Source; PeckShieldAlert
 </figcaption>
</figure>
After discovering a vulnerability and proving the code is bugged, white hat hackers return the stolen funds. If the Ronin attacker turns out to be such an ethical hacker, the funds could soon be safely returned.
It's not uncommon for hackers with malicious intent to return stolen funds either. Earlier in May, a <a href="https://cointelegraph.com/news/wbtc-thief-returns-71-million">hacker returned $71 million</a> worth of stolen crypto to the victim, after the high-profile incident brought significant attention and revealed the hacker's potential IP.
Related: <a href="https://cointelegraph.com/news/top-50-cryptos-lose-2024-gains-510b-selloff">$510B crypto sell-off wipes 2024 gains for top 50 coins</a>
This is a developing story, and further information will be added as it becomes available.

Ronin Network exploited for $9.8M in ETH, white hat hacker suspected

Cointelegraph

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