Ronin Network Recovers $10M ETH, USDC Recovery Underway

Quick Summary:

The Ronin Network has been able to recover approximately $10 million worth of Ethereum (ETH) that was stolen in a recent security breach.

As of now, the network expects the US dollar-pegged stablecoin USDC to be returned later in the day.

The bridge currently manages assets in excess of $850 million and this shows why tight security measures need to be in place.

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Article Details

Author / Journalist: Kelvin Munene Murithi

Category: Crypto

Markets: India

Topics: 24/7 Cryptocurrency News Ronin Network Crypto hack Ronin Bridge

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-06 @ 17:45:45 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 500 words

Reading Time: 3 minutes read

Sentences: 36 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 21959120

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 36 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 9 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

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News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #59

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