"Ethical Hackers Steal and Return $12m to Ronin Network"

A popular Ethereum blockchain, which was the victim of the largest ever crypto-heist back in 2022, recently suffered a $12m loss but had the stolen funds returned by ethical hackers.  Ronin Network is an Ethereum Virtual Machine (EVM) blockchain designed for game developers and is owned by Vietnamese firm Sky Mavis.  Earlier this week, Ronin Network revealed that unauthorized third-party actors withdrew around 4000 Ethereum and two million USD Coin (USDC), a digital stablecoin pegged to the US dollar, a total valued at around $12m.  This was the maximum amount of the two cryptocurrencies that could be withdrawn from the bridge in a single transaction.  Ronin Netowork noted that the third parties in question were fortunately not motivated by malicious intent.  The company said the actors appeared to be "white hats," and they responded in good faith.  The firm has confirmed that the funds have been returned and awarded the ethical hackers a $500,000 bounty.  Ronin Network noted that the bridge will undergo an audit before it is reopened, and it will provide updates as the audit progresses. 

Infosecurity Magazine reports: "Ethical Hackers Steal and Return $12m to Ronin Network"