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An Attacker Steals $625M in Crypto From NFT Game Network Ronin

ByLouis Adams

Mar 31, 2022 #Hackers
Reading time: < 1 minute

A hacker has managed to withdraw 173,600 Ethereum worth more than $600 million, as well as more than $25.5 million in USDC.

The hacker has hacked the blockchain bridge Ronin and withdrawn more than $625 million in crypto. The representatives of the crypto project have said that the attacker took advantage of a network vulnerability on March 23, however, the problem was discovered only on March 29, when a user was unable to withdraw 5,000 Ethereum from the protocol.

The blockchain operator has said the work of the Ronin bridge was temporarily suspended to prevent further attacks. It will return to work as soon as the team is satisfied that the rest of the funds cannot be stolen.

The Ronin hack is at the moment the largest in the decentralized finance sphere. It has outpaced the previous record theft of 93,700 Ethereum from the Wormhole protocol, which took in February.