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What is Roninâ
Ronin is an EVM blockchain specifically forged for gaming. Launched by Sky Mavis, the creator of Web3âs breakout title Axie Infinity which has generated over $1.3B in revenue, Ronin is the only blockchain proven to scale a single game to accommodate millions of daily active users and has processed over $4B in NFT volumes. Ronin optimizes for near-instant transactions and negligible fees that enable millions of in-game transactions to occur seamlessly, making it the leading choice for Web3 games.Created by Sky Mavis, the team behind Axie Infinity and backed by top investors like Accel, a16z, Binance Labs, Animoca Brands, Paradigm, Libertus, Mark Cuban.#Ronin #Ron #RONIN #Write2Earn #TrendingTopic
3) RONIN (RON)
The release of 22.19M RON tokens was
scheduled for January 27th, and the price
of RON increased by 25% in the 3 days
leading up to the rrelease. #Ronin #Ron #Bullish #cryptoved #BTC
The release of 22.19M RON tokens was
scheduled for January 27th, and the price
of RON increased by 25% in the 3 days
leading up to the rrelease. #Ronin #Ron #Bullish #cryptoved #BTC
Just In : Etherium breaks 3000$ mark , Giga bullish to all Etherium built block chain like Ronin , Axie infinity , smooth love potion and more #Ron #AXS #SLP đđđ #ETH/USDT:
#Write2earn
RONIN BRIDGE EXPLOIT: WHITE-HAT HACKERS STEAL $12M IN ETH AND USDC , $10M RETURNED
#Ronin #CryptoHack #Ron $RONIN
Ronin, the blockchain created by the Axie Infinity team, faced a significant exploit on Tuesday, losing $12 million. Despite this, quick action by the team mitigated the damage and secured user funds.
How the Exploit Happened
After a recent upgrade, attackers exploited the Ronin bridge by tricking it into misinterpreting the operators' vote threshold for fund withdrawals. This breach allowed the hackers, identified as white-hat hackers acting in good faith, to steal 4,000 ETH (approximately $10 million) and $2 million in USDC.
Immediate Response and Network Shutdown
The Ronin team promptly responded to the exploit. âEarlier today, we were notified by white-hats about a potential exploit on the Ronin bridge,â they posted on X. The bridge was paused about 40 minutes after detecting the first on-chain activity. The team is negotiating with the responsible parties to ensure all user funds remain safe, promising to cover any shortfalls when the bridge reopens.
What Are White-Hat Hackers?
White-hat hackers are ethical hackers who identify vulnerabilities in systems to help fix them before malicious actors exploit them. Typically, they return stolen assets for a bounty. In this case, the Ronin team believes the hackers are acting in good faith to highlight security issues.
Ronin's History with Exploits
This isn't the first time Ronin has been targeted. In March 2022, it suffered a massive DeFi exploit, losing over $600 million to hackers. This recent incident, while significant, shows Ronin's improved response and security measures.
Market Reaction
Interestingly, the RON token rose by 6% to $1.4 despite the exploit news. However, the networkâs market cap has dropped dramatically, sitting at $475 million, down 65% from its May peak of $1.3 billion.
RONIN BRIDGE EXPLOIT: WHITE-HAT HACKERS STEAL $12M IN ETH AND USDC , $10M RETURNED
#Ronin #CryptoHack #Ron $RONIN
Ronin, the blockchain created by the Axie Infinity team, faced a significant exploit on Tuesday, losing $12 million. Despite this, quick action by the team mitigated the damage and secured user funds.
How the Exploit Happened
After a recent upgrade, attackers exploited the Ronin bridge by tricking it into misinterpreting the operators' vote threshold for fund withdrawals. This breach allowed the hackers, identified as white-hat hackers acting in good faith, to steal 4,000 ETH (approximately $10 million) and $2 million in USDC.
Immediate Response and Network Shutdown
The Ronin team promptly responded to the exploit. âEarlier today, we were notified by white-hats about a potential exploit on the Ronin bridge,â they posted on X. The bridge was paused about 40 minutes after detecting the first on-chain activity. The team is negotiating with the responsible parties to ensure all user funds remain safe, promising to cover any shortfalls when the bridge reopens.
What Are White-Hat Hackers?
White-hat hackers are ethical hackers who identify vulnerabilities in systems to help fix them before malicious actors exploit them. Typically, they return stolen assets for a bounty. In this case, the Ronin team believes the hackers are acting in good faith to highlight security issues.
Ronin's History with Exploits
This isn't the first time Ronin has been targeted. In March 2022, it suffered a massive DeFi exploit, losing over $600 million to hackers. This recent incident, while significant, shows Ronin's improved response and security measures.
Market Reaction
Interestingly, the RON token rose by 6% to $1.4 despite the exploit news. However, the networkâs market cap has dropped dramatically, sitting at $475 million, down 65% from its May peak of $1.3 billion.
