Cointelegraph - Ronin Network lost $9.8 million worth of Ether in a potential exploit by a maximal extractable value (MEV) bot, possibly conducted by a white hat hacker aiming to identify vulnerabilities in the protocol

https://cointelegraph.com/news/ronin-network-exploit-9-8m-eth-white-hat-hacker

Ronin Network lost $9.8 million worth of Ether in a potential exploit, possibly by a white hat hacker intending to find vulnerabilities in the protocol.

The exploit involved a maximal extractable value (MEV) bot, which automatically implements arbitrage strategies and can inadvertently exploit loopholes.

If confirmed as an ethical hacker, the stolen funds might be returned, highlighting a trend of increasing crypto hacks in 2024.

Beware of blockchain hacks!!