According to blockchain analytics firm Elliptic, this hack attack is the second largest cryptocurrency theft to date. Larson said, “We are working on a solution. All ETH and USDC have been stolen in this hack attack.” Ronin Network reported in a blog post on Tuesday that a hacker had broken into the network and stole 1,73,600 Ether and approximately $25 million worth of USDC stablecoins. The post said, “We are working with law enforcement officials, forensic cryptographers and investigators to ensure that all funds are recovered or repaid. Hacked to perform fraudulent withdrawals.” Private keys were used.”
Larson told Bloomberg that Ronin plans to add additional validators to strengthen decentralization. He said that Chainalysis is also being used to track the movement of stolen ETH from this Ethereum address. It will not be easy for hackers to cash in on stolen cryptocurrencies. Larsen said that the stolen funds included deposits of players and speculators and the revenue of the firm.
Last year, hackers stole more than $600 million in cryptocurrencies by breaking into the blockchain-based platform Poly Network. This was the biggest hack of Decentralized Finance (DeFi). Cybercriminals stole nearly $1.3 billion from hacking in the blockchain segment last year. With the rise in popularity of digital assets, hacking cases have also increased. Last month, the crypto platform Wormhole Portal lost $322 million in one such hack attack. With the increasing number of scams and hacking cases involving the crypto segment, the regulators have called for increased scrutiny of this segment.
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