Ronin

Ronin Network Hack - September 2022 ($12M)

Summary from search results

This $12 million incident is associated with white hat hackers returning funds to Ronin Network. Search results indicate confusion between events:

• March 2022 major hack: $540M+ stolen via validator node compromise (Lazarus Group). Ronin had 9 validators with 5 needed to approve transactions. Sky Mavis controlled 4 validators, plus a fifth was accessible through a program that was not properly terminated. FBI attributed this to North Korea-based Lazarus Group via social engineering.

• September 2022 / August 2024 $12M incident: White-hat hackers withdrew 4,000 ETH and 2 million USDC totaling $12M. They "appear to be acting as white-hats and have responded in good faith" after discovering an exploit in the bridge.

Recovery

In September 2022, law enforcement authorities recovered $30 million from the original hack, with another $5.8 million in February 2023.

Sources

• https://thecyberexpress.com/ronin-networks-12-million-hack-white-hat/

• https://www.bleepingcomputer.com/news/security/ronin-network-hacked-12-million-returned-by-white-hat-hackers/

• https://therecord.media/hackers-return-12-million-taken-from-ronin-network

• https://roninchain.com/blog/posts/back-to-building-ronin-security-breach-6513cc78a5edc1001b03c364

• https://www.halborn.com/blog/post/explained-the-ronin-hack-march-2022