Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home Incidents

Ronin Bridge Halted After $12M Whitehat Hack

August 8, 2024
Reading Time: 3 mins read
in Incidents
Ronin Bridge Halted After $12M Whitehat Hack

On August 6, 2024, the Ronin Network, a blockchain platform used for gambling, faced a critical security breach when white-hat hackers exploited a vulnerability in its bridge. The attackers managed to withdraw $12 million in total, comprising 4,000 ETH and 2 million USDC. This incident was facilitated by an undocumented flaw introduced in a recent bridge update, which allowed unauthorized fund withdrawals. The bridge’s built-in security measures, which limit the maximum withdrawal amount, helped prevent an even larger loss.

Following the breach, the Ronin Network acted swiftly to mitigate the damage. The bridge was paused for 40 minutes while the vulnerability was assessed. The Ronin team identified that the flaw arose from a recent update that incorrectly altered the vote threshold required from bridge operators for fund withdrawals. This misconfiguration enabled the unauthorized transaction. The team is now working on a comprehensive fix, which will undergo rigorous audits before being redeployed.

The white-hat hackers, who discovered the vulnerability during their attack, have fully returned the stolen funds. In recognition of their efforts to expose the flaw and assist in the security review, they will receive a $500,000 bounty. The Ronin Network has announced that it will abandon the current bridge structure and develop a new solution in collaboration with Ronin validators to enhance security and prevent future breaches.

This incident follows a previous major hack in March 2022, when the Ronin bridge was compromised by the Lazarus Group, resulting in the theft of $625 million. Although some funds were recovered by law enforcement, the recent breach highlights ongoing vulnerabilities in the platform. As the Ronin Network moves forward with its new security measures, it underscores the importance of continuous vigilance and proactive security enhancements in the cryptocurrency sector.

Reference:

  • Earlier today, we were notified by white-hats about a potential exploit on the Ronin bridge.
Tags: August 2024BlockchainCryptocurrenciescyber incidentsCyber Incidents 2024Cyber threatsRonin Network
ADVERTISEMENT

Related Posts

Customer Data Breach at Seychelles Bank

Cyberattack Strikes Air Serbia

July 17, 2025
Customer Data Breach at Seychelles Bank

Ukrainian Hack Hits Russian Drone Firm

July 17, 2025
Customer Data Breach at Seychelles Bank

Customer Data Breach at Seychelles Bank

July 17, 2025
Fitify Leaks 138K User Progress Photos

Albemarle County Ransomware Attack

July 16, 2025
Fitify Leaks 138K User Progress Photos

Millions Affected By Episource Data Breach

July 16, 2025
Fitify Leaks 138K User Progress Photos

Fitify Leaks 138K User Progress Photos

July 16, 2025

Latest Alerts

SonicWall Zero-Day RCE Exploited

Stealthy JavaScript Attacks via SVG Files

Malicious Telegram APK Campaign Uncovered

Google Realeases Critical Chrome Update

Interlock deploys new PHP RAT via FileFix

Android Malware Konfety Evolves

Subscribe to our newsletter

    Latest Incidents

    Cyberattack Strikes Air Serbia

    Customer Data Breach at Seychelles Bank

    Ukrainian Hack Hits Russian Drone Firm

    Albemarle County Ransomware Attack

    Fitify Leaks 138K User Progress Photos

    Millions Affected By Episource Data Breach

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial