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Ronin Network, previously targeted in a significant DeFi hack in 2022 where $624 million was stolen, has experienced another security breach in August 2024. The recent attack resulted in the loss of $12 million in ETH and USDC. The breach was attributed to a vulnerability in the Ronin bridge, which was exploited by white-hat hackers. The vulnerability was introduced by a smart contract upgrade, and the error was identified in the upgrade deployment script, according to Verichains.
🚨 Summary on Ronin Network Hack: 1/ 🛡️Security Breach: The #Ronin Network was hacked, leading to the loss of $12 million in ETH and USDC. White-hat hackers exploited a vulnerability in the Ronin bridge. $RON #Hacking 🧵⬇️ https://t.co/mNhQNjkkS7
[COINTELEGRAPH] Ronin bridge hack caused by error in upgrade deployment script — Verichains
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